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Fortune Magazine names tech billionaire Elon Musk ‘Businessperson of the Year’

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Fortune Magazine names tech billionaire Elon Musk ‘Businessperson of the Year’
Fortune Magazine names tech billionaire Elon Musk ‘Businessperson of the Year’

Washington – Tech billionaire Elon Musk has been named the top businessperson of 2013.

Fortune Magazine named Musk based on the revenues and stock price gains from three companies he founded – Tesla, SpaceX and SolarCity.

His name was also selected for the ‘cultural impact’ he has had through these and other ventures, including the much-discussed Hyperloop concept.

According to Mashable, Fortune noted that Musk, who is the co-founder of PayPal, has gone on to disrupt aeronautics with Space Exploration Technologies, known as SpaceX; shake up the auto business with Tesla Motors; and retool the energy sector with SolarCity.

This accomplishment for Musk comes at a time when one of his companies, Tesla, is struggling to beat back concerns following reports that several of its cars have caught fire.

Tesla’s stock had approached nearly 200 dollars a share, a more than six-fold increase for the year, but has since dropped back down to the low 120 dollars range, the report said.

The CEOs of Netflix, Amazon and Google all cracked the top 10. Angela Ahrendts, the current CEO of Burberry and soon-to-be retail exec at Apple, ranked fourth on the list, the report added.

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