Latest news with #wealth
Yahoo
2 hours ago
- Lifestyle
- Yahoo
"My Boss Asked Me Why I Don't Just Hire A Nanny": 23 "Normal" People Are Sharing The Exact Moment They Realized Someone They Knew Was Privileged
There are many privileged people in the world. However, there are some who choose to acknowledge their privilege, while others seem to simply think of their extravagant lifestyle as the "norm..." That's why when TikTok user @howdoewedo said, "I'm bored. Tell me one moment you realized someone was actually super privileged — like they said or did something so out of touch it made you pause." Over thirty thousand individuals responded with stories of discovering that people in their lives were verrrry well-off. Without further ado, here are 23 of their wildest realizations: If you've ever realized that someone you know is privileged, feel free to tell us about it using this anonymous form! 1."I had a college roommate who casually told me how she would just THROW AWAY her designer clothes if something didn't fit or she didn't like it because she just didn't feel like returning it." "I begged her to donate. She always threw away the stuff at her family's home; otherwise, I would've saved it all." —emchenderson Related: 2."I knew a family who bought a home and thought the house next to theirs complemented it. They bought it too, so they wouldn't have to worry about someone changing it." —shartingalloverurmom 3."My college roommate didn't realize the trash didn't take itself out. She threw away a whole rotisserie chicken in the kitchen trash can, didn't take it out all weekend, and we got roaches." "She had maids growing up, so I had to teach her how to clean." —kristimj 4."I mentioned to someone that a certain political party plans to implement a national dental care plan, and she said, 'My dad already pays for my dental work.'" "I didn't know how to explain that she should care about other people who don't have that luxury." —anonswer 5."I was working at a bank when I noticed someone casually had $500k sitting in their CHECKING account. I mentioned a money market account, so they could grow interest, and their response was 'This is just my play money.'" —lexisharee7 6."I knew someone whose AirPods were stolen, and instead of confronting the person (since they were tracking-equipped) or telling the cops, she just bought an entirely new pair, with her parents' money because she, of course, doesn't work." —ssarosegadot Related: 7."I had a friend who complained about the wildfires in Hawaii because she had planned a vacation there. She wasn't upset that people were suffering; instead, she was sad because she couldn't go snorkeling somewhere she had already been." —rosecoloredbrains 8."An ex and I were visiting NYC from Canada. He asked a local, 'How much does it cost to speed?'" I had never thought of purposefully 'buying' a ticket in order to be able to drive however fast you wanted." — 9."In high school, my friend totaled five cars in one year, and she would get a better car each time." "She once told me if I didn't like my car, I should just crash it and get a better one." —dazzlechanny 10."When I was in college, I was talking to this guy, and I went to his parents' house (he still lived with them). Turns out, they lived in a rich neighborhood." "When we got there, he asked his mom for $800 for a new synthesizer. She said, 'I just bought you a new guitar,' then gave him the $800 anyway. I couldn't believe it. I was scared to ask my mom for $5, and I had a job!" —wither2death_ 11."One of my childhood friends wanted to clean out the dishwasher with me (it was my chore) because they had never had a chore and thought it looked fun." — Related: 12."A college classmate was complaining because her (head of neuroscience at a prestigious college) dad told her he'd only cover $1100 out of her $1200 rent, so she'd have to get a job. I was flabbergasted." —iamjustjakob 13."My senior year, my dad bought me a new pair of Nike Blazers. Later on, a random cheerleader stepped on my foot and tore the leather. When I was upset and yelling, she told me to just 'buy a new pair' then acted confused when I told her why I couldn't afford to do that." — 14."I was cooking a staff barbecue once, and my boss told me I was doing a great job. I said, 'Thanks, I love to cook. My mum got me in the kitchen as a teenager and now I love it.'" "My boss replied, 'I had a private chef growing up.' We both just stood there in silence before she walked away." —milkyflow 15."Someone told me, 'Don't get a used car, it's better to just get a brand new one to avoid all the maintenance.'" "Girl, if I could, I WOULD." —aanouncement 16."When I was 18, I visited my cousin who lived close to the suburbs around Dallas. We met with some of her friends for lunch (which I typically didn't do because of money, but it was the norm for them), and one of them had shopping bags. She told us that she wanted to buy only the top in a boutique, but ended up buying the entire outfit off the mannequin." "I had never even considered buying a whole outfit before because I always bargain shopped for random mix and matches that could last me through the entire year." —madelinefayephoto 17."Someone I knew said, 'I love caviar so much. I wish my parents would just open a farm for it. I mean, we already funded one. I don't know why we can't HAVE one.' I thought, 'Bro, what?'" —ollierue Related: 18."A girl in my choir pulled up to a CHARITY event in a Tesla. Her mom scolded her for not 'taking one of their older cars.'" —theoperageek 19."My friend had to live alone for a job in another city for eleven months. She told me that she would order food in for all her meals or eat out in restaurants because she was 'too afraid to use the stove.' She never needed to know how to cook since she always had a maid at home." —mariacomhnofinal 20."My boss asked me why I don't just get a nanny for my kids instead of staying home with them while they're sick." "You don't pay me enough for a nanny, Cheryl!" —pettypettyprincess_ 21."A guy I know said he grew up poor. His family had two houses and a plane hangar, WITH a plane in it. He said, 'Well, it wasn't a nice plane.'" "I told him, 'If it wasn't a paper plane, it's safe to say your parents were wealthy.'" —thebloomingtoker 22."In college, we were talking about FAFSA (Free Application for Federal Student Aid), when a girl panicked and called her mom to ask if they had filled it out. Her mom picked up and said, 'Oh, honey, we don't do that.'" —strwbryjamn 23."When the first Nintendo Switch was set to be released, my friend pre-ordered one immediately. He excitedly said that I should buy one, too. I said, 'I can't. You know, being a broke college student and all?'" "He replied, 'Yeah, but the sad thing is, I'm not.' He actually made a sad face, too. I told him that it wasn't 'sad' and he should be grateful. He still said it constantly." –abbykreutzer722 Did any of these stories surprise you? Do you remember an exact moment when you realized someone in your life was privileged? Tell us in the comments or answer anonymously using the form below! Also in Internet Finds: Also in Internet Finds: Also in Internet Finds: Solve the daily Crossword
Yahoo
2 hours ago
- Business
- Yahoo
Who wants to be a millionaire? 1 in 10 Americans already is but the status loses its luster
NEW YORK (AP) — As a child, Heidi Barley watched her family pay for groceries with food stamps. As a college student, she dropped out because she couldn't afford tuition. In her twenties, already scraping by, she was forced to take a pay cut that shrunk her salary to just $34,000 a year. But this summer, the 41-year-old hit a milestone that long felt out of reach: She became a millionaire. A surging number of everyday Americans now boast a seven-figure net worth once the domain of celebrities and CEOs. But as the ranks of millionaires grow fatter, the significance of the status is shifting alongside perceptions of what it takes to be truly rich. 'Millionaire used to sound like Rich Uncle Pennybags in a top hat,' says Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors, a wealth management firm in El Segundo, California. 'It's no longer a backstage pass to palatial estates and caviar bumps. It's the new mass-affluent middleweight class, financially secure but two zeros short of private-jet territory.' Inflation, ballooning home values and a decades-long push into stock markets by average investors have lifted millions into millionairehood. A June report from Swiss bank UBS found about one-tenth of American adults are members of the seven-digit club, with 1,000 freshly minted millionaires added daily last year. Thirty years ago, the IRS counted 1.6 million Americans with a net worth of $1 million or more. UBS — using data from the United Nations, World Bank, International Monetary Fund and central banks of countries around the globe — put the number at 23.8 million in the U.S. last year, a nearly 15-fold increase. The expanding ranks of millionaires come as the gulf between rich and poor widens. The richest 10% of Americans hold two-thirds of household wealth, according to the Federal Reserve, averaging $8.1 million each. The bottom 50% hold 3% of wealth, with an average of just $60,000 to their names. Federal Reserve data also shows there are differences by race. Asian people outpace white people in the U.S. in median wealth, while Black and Hispanic people trail in their net worth. Barley was working as a journalist when her newspaper ended its pension program and she got a lump-sum payout of about $5,000. A colleague convinced her to invest it in a retirement account, and ever since, she's stashed away whatever she could. The investments dipped at first during the Great Recession but eventually started growing. In time, she came to find catharsis in amassing savings, going home and checking her account balances when she had a tough day at work. Last month, after one such day, she realized the moment had come. 'Did you know that we're millionaires?' she asked her husband. 'Good job, honey,' Barley says he replied, unfazed. It brought no immediate change. Like many millionaires, much of her wealth is in long-term investments and her home, not easy-to-access cash. She still lives in her modest Orlando, Florida, house, socks away half her paycheck, fills the napkin holder with takeout napkins and lines trash cans with grocery bags. Still, Barley says it feels powerful to cross a threshold she never imagined reaching as a child. 'But it's not as glamorous as the ideas in your head,' she says. All wealth is relative. To thousandaires, $1 million is the stuff of dreams. To billionaires, it's a rounding error. Either way, it takes twice as much cash today to match the buying power of 30 years ago. A net worth of $1 million in 1995 is equivalent to about $2.1 million today, according to the U.S. Bureau of Labor Statistics. A seven-figure net worth is, to some, as outdated a yardstick as a six-figure salary. Nonetheless, 'millionaire' is peppered in everything from politics to popular music as shorthand for rich. 'It's a nice round number but it's a point in a longer journey,' says Dan Uden, a 41-year-old from Providence, Rhode Island, who works in information technology and who hit the million-dollar mark last month. 'It definitely gives you some room to breathe.' No other country comes close to the U.S. in the sheer number of millionaires, though relative to population, UBS found Switzerland and Luxembourg had higher rates. Kenneth Carow, a finance professor at Indiana University's Kelley School of Business, says commonalities emerge among today's millionaires. The vast majority own stocks and a home. Most live below their means. They value education and teach financial responsibility to their children. 'The dream of becoming a millionaire,' Carow says, 'has become more obtainable.' Jim Wang, 45, a software engineer-turned finance blogger from Fulton, Maryland, says even if hitting $1 million was essentially 'a non-event' for him and his wife, it still held weight for him as the son of immigrants who saved money by turning the heat off on winter nights. The private jets he envisioned as a kid may not have materialized at the million-dollar threshold, but he still sees it as a marker that brings a certain level of security. 'It's possible, even with a regular job,' he says. 'You just have to be diligent and consistent.' The resilience of financial markets and the ease of investing in broad-based, low-fee index funds has fueled the balances of many millionaires who don't earn massive salaries or inherit family fortunes. Among them is a burgeoning community of younger millionaires born out of the movement known as FIRE, for Financial Independence Retire Early. Jason Breck, 48, of Fishers, Indiana, embraced FIRE and reached the million-dollar mark nine years ago. He promptly quit his job in automotive marketing, where he generally earned around $60,000 a year but managed to stow away around 70% of his pay. Now, Breck and his wife spend several months a year traveling. Despite being retired, they continue to grow their balance by sticking to a tight budget and keeping expenses to $1,500 a month when they're in the U.S and a few hundred dollars more when they travel. Hitting their goal hasn't translated to luxury. There is no lawn crew to cut the grass, no Netflix or Amazon Prime, no Uber Eats. They fly economy. They drive a 2005 Toyota. 'It's not a golden ticket like it was in the past,' Breck says. 'For us, a million dollars buys us freedom and peace of mind. We're not yacht rich, but for us, we're time rich.' ___ Matt Sedensky can be reached at msedensky@ and Matt Sedensky, The Associated Press Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Associated Press
2 hours ago
- Business
- Associated Press
Who wants to be a millionaire? 1 in 10 Americans already is but the status loses its luster
NEW YORK (AP) — As a child, Heidi Barley watched her family pay for groceries with food stamps. As a college student, she dropped out because she couldn't afford tuition. In her twenties, already scraping by, she was forced to take a pay cut that shrunk her salary to just $34,000 a year. But this summer, the 41-year-old hit a milestone that long felt out of reach: She became a millionaire. A surging number of everyday Americans now boast a seven-figure net worth once the domain of celebrities and CEOs. But as the ranks of millionaires grow fatter, the significance of the status is shifting alongside perceptions of what it takes to be truly rich. 'Millionaire used to sound like Rich Uncle Pennybags in a top hat,' says Michael Ashley Schulman, chief investment officer at Running Point Capital Advisors, a wealth management firm in El Segundo, California. 'It's no longer a backstage pass to palatial estates and caviar bumps. It's the new mass-affluent middleweight class, financially secure but two zeros short of private-jet territory.' Inflation, ballooning home values and a decades-long push into stock markets by average investors have lifted millions into millionairehood. A June report from Swiss bank UBS found about one-tenth of American adults are members of the seven-digit club, with 1,000 freshly minted millionaires added daily last year. Thirty years ago, the IRS counted 1.6 million Americans with a net worth of $1 million or more. UBS — using data from the United Nations, World Bank, International Monetary Fund and central banks of countries around the globe — put the number at 23.8 million in the U.S. last year, a nearly 15-fold increase. The expanding ranks of millionaires come as the gulf between rich and poor widens. The richest 10% of Americans hold two-thirds of household wealth, according to the Federal Reserve, averaging $8.1 million each. The bottom 50% hold 3% of wealth, with an average of just $60,000 to their names. Federal Reserve data also shows there are differences by race. Asian people outpace white people in the U.S. in median wealth, while Black and Hispanic people trail in their net worth. Barley was working as a journalist when her newspaper ended its pension program and she got a lump-sum payout of about $5,000. A colleague convinced her to invest it in a retirement account, and ever since, she's stashed away whatever she could. The investments dipped at first during the Great Recession but eventually started growing. In time, she came to find catharsis in amassing savings, going home and checking her account balances when she had a tough day at work. Last month, after one such day, she realized the moment had come. 'Did you know that we're millionaires?' she asked her husband. 'Good job, honey,' Barley says he replied, unfazed. It brought no immediate change. Like many millionaires, much of her wealth is in long-term investments and her home, not easy-to-access cash. She still lives in her modest Orlando, Florida, house, socks away half her paycheck, fills the napkin holder with takeout napkins and lines trash cans with grocery bags. Still, Barley says it feels powerful to cross a threshold she never imagined reaching as a child. 'But it's not as glamorous as the ideas in your head,' she says. All wealth is relative. To thousandaires, $1 million is the stuff of dreams. To billionaires, it's a rounding error. Either way, it takes twice as much cash today to match the buying power of 30 years ago. A net worth of $1 million in 1995 is equivalent to about $2.1 million today, according to the U.S. Bureau of Labor Statistics. A seven-figure net worth is, to some, as outdated a yardstick as a six-figure salary. Nonetheless, 'millionaire' is peppered in everything from politics to popular music as shorthand for rich. 'It's a nice round number but it's a point in a longer journey,' says Dan Uden, a 41-year-old from Providence, Rhode Island, who works in information technology and who hit the million-dollar mark last month. 'It definitely gives you some room to breathe.' No other country comes close to the U.S. in the sheer number of millionaires, though relative to population, UBS found Switzerland and Luxembourg had higher rates. Kenneth Carow, a finance professor at Indiana University's Kelley School of Business, says commonalities emerge among today's millionaires. The vast majority own stocks and a home. Most live below their means. They value education and teach financial responsibility to their children. 'The dream of becoming a millionaire,' Carow says, 'has become more obtainable.' Jim Wang, 45, a software engineer-turned finance blogger from Fulton, Maryland, says even if hitting $1 million was essentially 'a non-event' for him and his wife, it still held weight for him as the son of immigrants who saved money by turning the heat off on winter nights. The private jets he envisioned as a kid may not have materialized at the million-dollar threshold, but he still sees it as a marker that brings a certain level of security. 'It's possible, even with a regular job,' he says. 'You just have to be diligent and consistent.' The resilience of financial markets and the ease of investing in broad-based, low-fee index funds has fueled the balances of many millionaires who don't earn massive salaries or inherit family fortunes. Among them is a burgeoning community of younger millionaires born out of the movement known as FIRE, for Financial Independence Retire Early. Jason Breck, 48, of Fishers, Indiana, embraced FIRE and reached the million-dollar mark nine years ago. He promptly quit his job in automotive marketing, where he generally earned around $60,000 a year but managed to stow away around 70% of his pay. Now, Breck and his wife spend several months a year traveling. Despite being retired, they continue to grow their balance by sticking to a tight budget and keeping expenses to $1,500 a month when they're in the U.S and a few hundred dollars more when they travel. Hitting their goal hasn't translated to luxury. There is no lawn crew to cut the grass, no Netflix or Amazon Prime, no Uber Eats. They fly economy. They drive a 2005 Toyota. 'It's not a golden ticket like it was in the past,' Breck says. 'For us, a million dollars buys us freedom and peace of mind. We're not yacht rich, but for us, we're time rich.' ___ Matt Sedensky can be reached at [email protected] and
Yahoo
19 hours ago
- Business
- Yahoo
How To Get Rich Even If You're Lazy, According to Ramit Sethi
Getting rich doesn't have to mean grinding 80-hour weeks or obsessing over every penny you spend. According to bestselling author and finance expert Ramit Sethi, 'being lazy is a secret weapon if you set your systems up right.' Find Out: Read Next: In a recent video, Sethi outlined eight 'lazy wins' that can build serious wealth without the typical financial stress. His approach? Set it up once, then let your money work while you live your life. Here's his lazy person's guide to getting rich. Automate Everything: The Foundation of Lazy Wealth Building Sethi's first rule is simple: 'Setting up automation once and letting it run for the next 20 years' beats manually managing money every month. Here's how the system works: Before you even see your paycheck, a portion goes directly to your 401(k). Your direct deposit hits your checking account, then portions automatically flow to your Roth IRA and savings. Your bills — rent, utilities, credit cards — all get paid automatically. 'You do not have to think about money every day,' Sethi said. 'People who automate their finances actually save more because it's happening by default.' The psychology is brilliant. No more 'I don't feel like it this month' or finding excuses to skip saving. Your wealth builds whether you're motivated or not. Learn More: Use Target Date Funds: Investing for People Who Hate Research Forget reading financial news daily or researching individual stocks. Sethi recommended target date funds for hands-off investing success. 'All you have to do is choose one fund based on the year that you plan to retire and invest it,' he explained. 'No stock picking, no rebalancing, no guesswork.' Target date funds automatically shift from aggressive growth when you're young to conservative preservation as you near retirement. The best part? 'Target date funds consistently outperform active investors,' according to Sethi. His example: Investing $500 monthly starting at age 25 in a target date fund could result in over $1.2 million by retirement. Set it up once, then 'go live your life.' Send One Email to HR: Unlock Free Money at Work This might be the easiest money you'll ever make. Sethi suggested sending this exact email to your HR department: 'Hi [Name], I want to make sure I'm taking full advantage of our benefits. Can you send me the details on our 401(k), any 401(k) match, HSA or any stock purchase plans that we have available?' The results could be game-changing. You might discover your company matches 4% of your salary and you're not taking advantage. You could learn about tax-saving health savings accounts or employee stock discounts. 'You wanna be lazy and rich? Start by sending smarter emails,' Sethi said. The 1% December Rule: Retire With Six Figures More Than Your Peers Here's where Sethi's lazy approach gets powerful. Every December, increase your retirement contributions by just 1%. That's it. The math is staggering. Take a look at two people earning $80,000 annually starting at age 30: Person A contributes a flat 5% yearly ($4,000 annually) and retires with about $550,000. Person B starts at 5% but increases by 1% each December until reaching 15%, ending with almost $1.4 million. That's an $845,000 difference for 'logging into an account and clicking a button 10 times,' Sethi pointed out. Even lazier? Some 401(k) plans offer automatic escalation, so you can set this up once and forget it. Negotiate Your Salary Just Once: The Briefcase Technique Sethi's 'briefcase technique' can add tens of thousands to your annual income with one conversation. Six months before your review, meet with your manager and ask: 'It's really important to me that I am a top performer at work. Can you help me understand what that would look like?' Get specific measurable goals, document them, then spend six months tracking your results. At review time, present your accomplishments alongside market research on your role's salary range. 'Over the last six months, I hit the goals we set together. Based on that and my research of the market, I'd like to discuss a compensation adjustment,' Sethi suggested saying. Students using this technique have earned $10,000 to $80,000 raises. The beauty? That extra income compounds for years. Create Simple Money Rules: Eliminate Decision Fatigue Wealthy people don't wake up wondering what to do with their money, Sethi observed. They use simple personal guidelines that remove constant decision-making. His money rules include: If buying something nice like a car, keep it as long as possible. Always buy books without checking the price. Never put major purchases on debt. Your rules might be different: 'I'll eat out guilt-free three times a week' or 'I always comparison shop for purchases over $200.' 'These rules eliminate angst and drama,' Sethi explained. 'You already made a decision that aligns with your rich life.' Say No to Financial Busy Work That Doesn't Matter Sethi gives lazy people permission to stop obsessing over things that won't make them rich: Checking credit scores monthly (unless applying for a loan) Budgeting every single dollar Optimizing credit card rewards for tiny differences Working weekend gigs for small amounts Stressing about coffee and tip prices Instead, focus on big wins: Don't overspend on housing (keep it under 28% of gross income), don't buy vehicles costing more than half your annual income, and prioritize earning more over cutting small expenses. 'The wealthiest people I know are not chasing trends. They're building boring systems,' Sethi shared. Define Your Rich Life: The Most Important Step Before implementing any strategy, Sethi asked the crucial question: 'What would your life look like if your money was handled?' He shared the example of podcast guest Sarah, whose rich life was simple: Eat sushi weekly, take one international trip annually and never worry about car repairs. Once defined, they built a money system supporting that vision. 'Accumulating money is not the point. The point is to live a rich life,' Sethi emphasized. Why This Lazy Approach Actually Works Sethi's system succeeds because it acknowledges human psychology. Most people fail at money management because they rely on motivation and willpower, which are unreliable. Automation removes the need for daily discipline. Target date funds eliminate analysis paralysis. Simple rules prevent decision fatigue. The 1% annual increase feels manageable but compounds dramatically. 'I could be dead right now,' Sethi joked about automation. 'For the next six months, my money is automatically being transferred. It's being saved. It's being invested. I'm freaking becoming wealthier as I'm dead.' Getting Started: Your Lazy Action Plan Pick three strategies that resonate most and implement them this month: Set up automation for savings and bill payments. Email HR about benefits you're missing. Choose a target date fund for retirement accounts. Schedule December reminder to increase contributions by 1%. Define three money rules that align with your values. The goal isn't to become a financial expert. It's to build systems that create wealth while you focus on living the life you actually want. As Sethi put it: 'You don't need to check the news every day to see what's going on with the market. Set it up once, automatically put money in and then go live your life.' That's the lazy person's path to wealth — and it just might be the smartest approach of all. More From GOBankingRates The 5 Car Brands Named the Least Reliable of 2025 This article originally appeared on How To Get Rich Even If You're Lazy, According to Ramit Sethi
Yahoo
a day ago
- Automotive
- Yahoo
Does Tesla Become More Valuable for Investors When Elon Musk Gets Richer?
Tesla CEO Elon Musk, among many other things, is famous for being the wealthiest human being on Earth. Currently, Musk's estimated net worth runs between a staggering $400 billion and $425 billion –that's almost twice the wealth of the next-richest person in the world, Mark Zuckerberg. A great deal of Musk's wealth stems from Tesla, the automotive company he invested in in 2004 and later became CEO of. Musk owned 20% of Tesla stock in late 2020, when the car company's valuation skyrocketed, thus creating 75% of Musk's now incredible wealth, per The Guardian. As such, Musk's wealth is irrevocably intertwined with Tesla's value. Find Out: Read Next: That doesn't mean that Tesla becomes more valuable for its investors when Elon Musk gets richer, though; rather, the inverse is true. According to The Verge, Musk has a compensation plan with Tesla that forgoes an annual salary; instead, Musk's compensation is generated by Tesla's profits and stock values — the billionaire only receives payment if Tesla hits specific stock market heights. This means that the more Tesla's stock rises, the richer Elon Musk becomes. Tesla does not become more valuable for investors when Musk gets richer, instead, Musk gets richer when Tesla becomes more valuable for investors. In that way, Musk is somewhat like the average Tesla stockholder himself — he profits when the company does well (he is, however, unlike most investors in that he makes millions upon millions in this scenario). Even though Musk's wealth can't increase the value of Tesla for stockholders, the world's richest man does have the power to influence the company's value. Musk, in addition to being the richest person on Earth, is also one of the most famous, with his every move under seemingly endless scrutiny. He has the ability to change and impact Tesla's valuation, profits and momentum via his public behavior. For instance, his controversial involvement with the second Trump administration (including DOGE) drew harsh criticism, which led to steep declines in Tesla stock and value. Additionally, his subsequent exit from the Trump administration led to an uptick in Tesla stock, which increased Musk's considerable wealth. Bottom line: When Musk gets richer, that is usually a good thing for Tesla investors, as it's a sign they'll be getting richer, too. It's just that his wealth isn't the source of their success, it's merely a large result of it. More From GOBankingRates 5 Cities You Need To Consider If You're Retiring in 2025 This article originally appeared on Does Tesla Become More Valuable for Investors When Elon Musk Gets Richer? Sign in to access your portfolio
