In the world of business and technology, two titans have emerged and reshaped the thinking of the 21st century. Wall Street has equally been amazed by the supremacy battle between Elon Musk and Jeff Bezos – two of the wealthiest individuals in the world today. The competition between the two extends beyond their companies, SpaceX and Amazon, as both try to drive and reshape the future of commerce and space exploration.
The rivalry between Jeff Bezos and Elon Musk has perhaps been prominent in their space ventures, Blue Origin and SpaceX. Both have their eyes beyond the earth’s surface and possess the ambitious goal of expanding human civilization to go beyond the earth. In their business rivalry, there is a lot to learn about investing. The boundaries of investments are open wide and possibilities are created. This article will share insights of these two wealthy individuals with the aim of highlighting the possibilities of their achievements.
About Elon Musk
Here are some unique investment traits that have shaped Elon Musk to become one of the wealthiest individuals in the world.
Long-Term Visionary Investments
If there is one thing that Musk is notorious for then it has to be his eyes on solving human problems that are futuristic. He has a visionary eye that makes him see beyond the current problems to grand challenges. Some of his investment options that show his visionary investments include Tesla (electric cars), SpaceX (space travel), and Neuralink (neurotechnology).
Self-funding
Elon Musk believes in taking risks to invest in ideas that he believes in. Take the example of how he reinvested his PayPal earnings into his businesses – SpaceX, Tesla, and SolarCity. He has the ability to put his money on the line even when there is a potential risk of losing it all.
Vertical Integration
There is a synergy that Musk creates by investing in multiple facets of an industry. Take the example of Tesla where he synergizes car manufacturing, battery products, and energy solutions. This kind of vertical integration ensures that his businesses remain dependent on each other as he maximizes value addition.
Pursuit of Sustainable Technologies
His honest pursuit of a greener world has put his businesses at the forefront of sustainable growth. He has massive investments in electric cars and solar energy, which shows his commitment to creating a sustainable world.
It is the combination of these factors that makes Musk one of the wealthiest individuals in the world. In simplified terms, he puts all he has in his vision.
About Jeff Bezos
Jeff Bezos’ business focus is somewhat different from Musk’s. Here is a set of traits that define Bezos’ rise to financial strength.
Start Small, Think Big
Bezos believes in the ‘start small, think big’ philosophy. This is evident in his start of Amazon, which was an online bookstore that later expanded in the fields of e-commerce, entertainment, and cloud computing.
Reinvestment in Core Business
As much as Amazon is known for high revenue, the profit margins are thin because Bezos reinvests a junk of his profits back into the business. This business approach has allowed him to expand his business and dominate the industry.
Customer First
Bezos believes that putting customers first and investing in factors that improve their experience helps in increasing profits naturally. A good example is Amazon Prime where this initiative has worked well.
Personal Ventures and Acquisitions
He has a diversified investment portfolio that goes beyond Amazon. He has made significant investments in space exploration through his company Blue Origin. He also has an active investment in The Washington Post, showing how diverse he is in investments.
Emphasis on Experimentation
Failure is a trait that Bezos is not afraid of. He experiments and learns from his successes and failures. Failures like the Fire Phone did not break his business spirit.
Summary
Both Elon Musk and Jeff Bezos have admirable business investment traits that have classed them as the top billionaires in the world. Their rivalry in reshaping the world thinking beyond the earth is a battle that Wall Street is stunned with and will be looking forward to seeing its development.