In March 2020 the then 50 year old Elon Musk was #31 on the richest people in the world list with an estimated

Elon Musk: The Plan to Make 2 Trillion Dollars in 10 years! | Faydety

In March 2020 the then 50 year old Elon Musk was #31 on the richest people in the world list with an estimated fortune of $25 billion. On 8th&nbsp;of January 2021, he topped that list with an estimated net worth of 190 billion dollars. Currently in 2022 and according to the latest updates he is worth around $245 billion. This means that in 10 months (from March 2020 to January 2021) his fortune increased 165 billion dollars which put his daily income at $550 million!The reason behind this jump is that the value of Tesla’s stock increased by 780% during the year when most of the world was losing money due to Covid.&nbsp;Here’s an interesting tidbit you probably didn’t know, in 2008 Tesla was on the verge of bankruptcy and in fact continued losing money till 2020.&nbsp;&nbsp;<h2>Musk helped his competitors!</h2>&nbsp;In 2014 Elon Musk did the unexpected, he made Tesla’s technology (leagues ahead of anyone else in the field of electric cars) available to his competitors. Surprised? So was everyone else. Who would offer their secrets to their competition, and to do it while losing money? Something didn’t add up.&nbsp;The real surprise came in 2020 when Tesla made a huge profit which in turn had people rushing to invest and buy Tesla stocks. As demand increased so did the stock price and thus Tesla became one of the top 5 companies worldwide when just the year before it ranked #55.&nbsp;<h2>The secret behind Elon Musk’s success</h2>&nbsp;In several interviews Musk stated that he works more than 100 hours per week and is convinced that if people did the same thing they would be able to accomplish in 4 months what they usually finish in a year.&nbsp;<h2>How can a company lose and make a profit at the same time?</h2>&nbsp;The numbers said that the company was losing money but in reality Tesla was making more profit each year than the year before. Sure, the profit was not huge by any means but Elon Musk re-invested every cent back into the company and even added to it. He was looking at the big picture, trying to decrease cost and produce as many cars as possible.&nbsp;&nbsp;<h2>Elon Musk’s 10 year plan</h2>&nbsp;The plan is to produce 30 million electric automated taxis. Tesla is currently known as the leading authority in automated vehicles. An automated taxi is expected to cost only 50 cents/mile in contrast to Uber’s current $2/mile. The reason behind the price decrease would be the lack of drivers and because it is an electric car so the cost of gas would be removed. If Elon Musk’s plan succeeds, Tesla is estimated to make $2 trillion in the next 10 years in sales alone.

Elon Musk used to make 550 million dollars per day



Elon Musk: The Plan to Make 2 Trillion Dollars in 10 years!

Insurance is a contract, in the form of a policy, in which an individual or entity receives financial protection and/or compensation against losses from an insurance company. Insuring something means diverting the burden of payment for its loss from a personal responsibility to one that the insurance company bears on your behalf, in a certain percentage, depending on the type of insurance you have.&nbsp;&nbsp;The insurance company relies on calculating the probability of a loss or damage to an insured asset. If there is a high probability, then the insurance cost tends to be expensive; on the other hand, if the probability is low, the insurance cost tends to be relatively cheaper.&nbsp;Let's start with the basics.&nbsp;<h2>Insurance Policy:</h2>&nbsp;As stated briefly above, an insurance policy is a contract between you and an insurance company. This policy outlines your agreement's details and determines the claims that the insurer is legally required to pay in exchange for a premium. It essentially states that the insurer must pay for any loss or damage caused by risks covered under the policy.&nbsp;<h2>Insurance Premium:</h2>&nbsp;An insurance premium is a certain amount of money that you need to pay periodically in exchange for the maintenance of your chosen insurance policy. If you are unable to pay the premium, the insurance policy will be forfeited. If this happens and you decide you would like to keep your coverage, you may be required to pay a fine or charge a higher premium accordingly.&nbsp;<blockquote>The insurance company relies on calculating the probability of a loss or damage to an insured asset</blockquote>&nbsp;<h2>Types of Insurance:</h2>&nbsp;There are many different types of insurance. Though it is possible to divide them into two basic categories, under which the other types of insurance fall, the two categories are:&nbsp;<h2>Life Insurance / Health Insurance</h2>&nbsp;Life insurance is a contract between you and an insurance company where, in exchange for premium payments paid by you during your lifetime, the company will pay a sum of money to your beneficiaries after your death.&nbsp;&nbsp;Health insurance covers medical expenses that may arise due to illness. These expenses could entail costs of hospitalization, cost of medicines, or medical consultation fees.&nbsp;These insurance types are primarily based on individuals, although some countries go one step further and provide pet insurance. This is because, at times, the cost of medicines and veterinarian visits are higher than the costs of individuals.&nbsp;<h2>Property Insurance / Disaster Insurance</h2>&nbsp;This type of insurance reimburses an individual or business and protects a physical property against loss from theft, fire, natural disasters, etc. Property insurance covers the building or structure itself as well as its contents, whether personal or corporate, including furnishings, inventory, and other items.&nbsp;Get your <a href="https://www.faydetyinsurance.com/en">Insurance Policy</a> Now through Faydety!

What do you know about the Insurance system in Egypt? and what's its Policies, Premium, and kinds? All you need to know about insurance

Elon Musk: The Plan to Make 2 Trillion Dollars in 10 years!

Elon Musk used to make 550 million dollars per day

Musk helped his competitors!

The secret behind Elon Musk’s success

How can a company lose and make a profit at the same time?

Elon Musk’s 10 year plan

Editors' Choice