A finance PhD explains why Jeff Bezos and Elon Musk got over $200B richer during the pandemic

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November 8, 2021

Jeff Bezos and Elon Musk didn’t freeze during the pandemic – their net worth shot up over $100 billion dollars. I want to use the stories of Jeff Bezos and Elon Musk to make one clear point: When you let the world freeze you up in fear, you often find yourself being left behind.

Elon Musk is now the richest man on earth with a net worth of $311 billion dollars. His investment in Tesla Stock is worth a fortune and this has made him the target of a great deal of animosity online.

Jeff Bezos, founder of Amazon, was once the poster child for the economic inequality of America, but as you can see, Bezos also saw a major rise in his net worth as a result of everyone else freezing up during the pandemic.

More about Jeff Bezos from Biography.com:

Entrepreneur and e-commerce pioneer Jeff Bezos is the founder and CEO of the e-commerce company Amazon, owner of The Washington Post and founder of the space exploration company Blue Origin. His successful business ventures have made him one of the richest people in the world. Born in 1964 in New Mexico, Bezos had an early love of computers and studied computer science and electrical engineering at Princeton University. After graduation, he worked on Wall Street, and in 1990 he became the youngest senior vice president at the investment firm D.E. Shaw. Four years later, Bezos quit his lucrative job to open Amazon.com, an online bookstore that became one of the Internet’s biggest success stories. In 2013, Bezos purchased The Washington Post, and in 2017 Amazon acquired Whole Foods. In February 2021, Amazon announced that Bezos will step down as CEO in the third quarter of the year.

Early Life and Education
Bezos was born on January 12, 1964, in Albuquerque, New Mexico, to a teenage mother, Jacklyn Gise Jorgensen, and his biological father, Ted Jorgensen.

The Jorgensens were married less than a year. When Bezos was 4 years old, his mother remarried Mike Bezos, a Cuban immigrant.

Bezos graduated summa cum laude from Princeton University in 1986 with a degree in computer science and electrical engineering.

More about Elon Musk from Biography.com:

Elon Musk is a South African-born American entrepreneur and businessman who founded X.com in 1999 (which later became PayPal), SpaceX in 2002 and Tesla Motors in 2003. Musk became a multimillionaire in his late 20s when he sold his start-up company, Zip2, to a division of Compaq Computers.

Musk made headlines in May 2012, when SpaceX launched a rocket that would send the first commercial vehicle to the International Space Station. He bolstered his portfolio with the purchase of SolarCity in 2016 and cemented his standing as a leader of industry by taking on an advisory role in the early days of President Donald Trump’s administration.

In January 2021, Musk reportedly surpassed Jeff Bezos as the wealthiest man in the world.

Early Life
Musk was born on June 28, 1971, in Pretoria, South Africa. As a child, Musk was so lost in his daydreams about inventions that his parents and doctors ordered a test to check his hearing.

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More about Dr Boyce Watkins:

Boyce Watkins has been a former Visiting Fellow at the Shanghai University of Finance and Economics and the Centre for European Economic Research (Mannheim, Germany).[3] Watkins is a member, by donation, of the College Sports Research Institute at the University of North Carolina at Chapel Hill.[4]

He has authored several financial advice books, including Financial Lovemaking 101: Merging Assets with your Partner in Ways that Feel Good, Black American Money, as well as What if George Bush were a Black Man. His work has also appeared in such publications as the Journal of Small Business Management.[5] and The Journal of Economics and Business.[6]

In addition to publishing scholarly articles on finance and investing, Watkins is an advocate for education, economic empowerment, and social justice, and has made regular appearances in various national media outlets, including CNN, Good Morning America, MSNBC, Fox News, BET, NPR, Essence Magazine, USA Today, Today, ESPN, The Tom Joyner Morning Show, and CBS Sports.[2][7] He was also a frequent guest on The Wendy Williams Experience radio program, and remains a frequent contributor to the Grio and TheLoop21.com.[8]