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Musk falls $14 billion shy of world's richest

Elon Musk is just $14 billion away from becoming the richest man on Earth, and potentially the richest man in human history.

The SpaceX and Tesla founder today is worth more than $227 billion, just shy of the world's richest man and Amazon founder Jeff Bezos at $241 billion.

The Bloomberg Billionaires Index, which ranks the net worth of the world's richest people on a daily basis, largely values a billionaire based off the value of the assets they own.

READ MORE: Uber-wealthy, super elite rake in multi-billions in 2020

Elon Musk

Because their primary assets are largely publicly-listed companies, that means the peaks and troughs of Musk's net worth is inextricably tied with the stock price of Tesla.

During the worst of the COVID pandemic, there has been few better stock options than Tesla.

In mid-May 2020, when much of the US was straining under a deluge of new cases, Tesla was worth about $USD 72.

READ MORE: Musk warns Tesla stock could be crushed 'under a sledgehammer'

Fast forward to January 2021, and that same stock is worth an astonishing $USD 729 – a percentage gain of 912.5 per cent.

That means for every $USD 1 of Tesla you bought in May, you would have made around $USD 600 profit (not including capital gains tax).

The boom comes after Tesla hit its goal of building a half-million cars in 2020.

READ MORE: Billionaire fortunes jump by a quarter during pandemic

Tesla's stock rise over the last 18 months has made it the most valuable automaker in the world.

Its current market cap is worth roughly the combined value of the next eight most valuable global automakers – Toyota, Volkswagen, Daimler, GM, BMW, Honda, Hyundai and Ford.

Volkswagen, the world's largest automaker, sold just under 11 million cars worldwide in 2019.

General Motors, the largest US automaker, had global sales of 7.7 million cars in 2019.

Additional reporting by CNN.

Top economist's predictions for 2021

One of the leading economists in the country has forecast 2021 to be the year of economic recovery as the world deals with the fallout of the COVID-19 pandemic.

Craig James, Chief Economist of CBA's stockbroking firm CommSec, said locally the RBA has done much to reduce the shock the virus has taken on Australia's employment levels.

"Borrowing costs for Aussie households and businesses are at rock bottom, driving a housing market recovery, while encouraging firms to invest and hire workers," Mr James said.

READ MORE: Unemployment rate falls to 6.8 per cent as jobs surge in Victoria

"Policy is primarily focused on job creation to reduce scarring in the labour market."

Globally, he predicted that a Biden presidency should see economies revert back to pre-pandemic levels 12 months from now.

"Investors hope that US President-elect Biden announces a stimulus package of at least US$1 trillion, which could boost US economic growth, returning the economy to pre-pandemic levels by the end of 2021," Mr James said.

READ MORE: Taking China to WTO 'no quick fix', trade minister admits

President-elect Joe Biden received his first dose of the coronavirus vaccine on live television as part of a growing effort to convince the American public the inoculations are safe.

"As President, Joe Biden could introduce tougher financial regulation and impose anti-trust measures on big technology companies.

"His engagement with China on trade issues will also be a key focus along with his foreign policy objectives in the Middle East. This is of special importance to Australian businesses and investors."

Of course, much of his predictions hang upon a successful and widespread rollout of a COVID-19 vaccine, the tool widely tipped to be the catalyst for economic recovery.

READ MORE: China restricts Australian coal imports amid 'deteriorating relationship'

"Europe and the US are currently experiencing second waves of the virus, driving case numbers to record highs and necessitating fresh lockdowns," Mr James said.

"The good news is that an effective vaccine is expected to be distributed across the globe, with vaccinations already commencing in the UK. And treatments for the virus are also being developed.

"The economic outlook will clearly be dictated by the virus and how quickly vaccines can stem case numbers and allow economies to start repairing."

READ MORE: Australian economy would take 'economic hit' in South China Sea war

The economist also predicted Aussie interest rates to remain "super low", meaning it is unlikely to see another cut in the next 12 months.

Rather, he anticipates the RBA will focus on other fiscal policies to respond to the ebbs and flows of the local economy.

"While monetary policy was once all about adjusting interest rates (or the price of money) that is no longer the case." he said.

You can get up-to-date information from the Federal Government's Coronavirus Australia app, available on the App Store, Google Play and the Government's WhatsApp channel.

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China names areas 'high danger zones' after new COVID-19 spike

China has designated parts of Hebei province near Beijing as a coronavirus high danger zone after 14 new cases of COVID-19 were found.

Eleven of those cases were in Shijiazuang city, where some events for the 2022 Winter Olympics will be held.

An additional 30 people tested positive for the virus without showing any symptoms, the provincial health authority said today.

The other three COVID-19 cases were in the city of Yantai.

Parts of Shijiazhuang were designated high danger areas, meaning they will undergo stricter testing and isolation measures, while parts of Yantai were registered as medium risk areas.

READ MORE: China approves Sinopharm vaccine

Medical investigators were looking into whether a single event such as a family gathering had been the origin of many of the Hebei cases.

China has recorded a total of 87,183 cases of COVID-19, with 4634 deaths.

People who have tested positive but not shown symptoms have been counted separately from its official COVID-19 tally.

READ MORE: How a virus with no name spread into a global pandemic

Wary of another wave of infections, China is urging tens of millions of migrant workers to stay put during next month’s Lunar New Year holiday, usually the world’s largest annual human migration.

Classes are also being dismissed a week earlier than usual and tourists are being told not to come to Beijing for holidays.

New quiz helping Aussies kick health goals for 2021

A new quiz based on psychological research from leading national science agency CSIRO is aiming to help Aussies improve their wellbeing in 2021 and beyond.

The personalised tool is designed to help users develop long-term strategies to improve their wellbeing and conquer motivation slumps in the new year.

Based on psychology and behavioral science, the new Start Strong Diet Quiz assesses participants' values and provides a guide to improve participants' overall health and wellbeing in 2021.

READ MORE: Managing disordered eating during lockdown

People are seen exercising along the Yarra River on September 06, 2020 in Melbourne, Australia.

The app works by assessing the reasons behind a person's desire to change their health habits and tailoring practical tips to help reach their goal.

An analysis of over 11,000 people found most 93 per cent were motivated to lose weight to feel good and improve their quality of life.

A close second was health as a driver, with 89 per cent of people motivated by the prospect of a healthier lifestyle.

CSIRO research scientist, Dr Gilly Hendrie, said after a difficult year in 2020 many people would be looking to improve their physical and emotional health this year.

"Our research shows that lockdown took its toll on the minds and bodies of Australians," Dr Hendrie said.  

LIVE UPDATES: Four new COVID-19 cases in NSW

"We look at the factors that help people change behavior and imbed that."

Dr Hendrie told nine.com.au a previous study conducted during the height of the COVID-19 pandemic revealed two out of five people felt they had gained weight during lockdown.

While weight loss is a common driver behind a desire to exercise or change their diet, Dr Hendrie said a more holistic approach is beneficial in helping people sustain motivation.

"There have been psychological studies that suggest the quality of the motivation can influence your success," she said.

"You may be more successful in meeting your goals if your motivation is internal for example to feel good to improve quality of life that something that is more external like wanting to look a certain way.

"The mental toll is something that needs to be considered and the quiz is based on helping improve people's overall wellbeing."

Sydney weather social distancing

Dr Hendrie said setting achievable goals and ensuring people have access to manageable step-by-step tips to reaching them is another key to success.

"Setting a long term goal is important but having those baby steps is important and reminding yourself why you're doing it.

"The diet itself is based on many years of scientific reach and more recently were focusing more on wellbeing."

"There's a lot of programs going around at the moment and we're trying to make this a lifestyle change not just a short term thing so that people can improve their overall wellbeing this year and beyond."

CSIRO behavioral scientist Dr Emily Brindal said understanding people's reasons for starting a formal weight loss program was critical to help them stay committed once the New Year's resolutions have waned.

"'New year, new me' resolutions can often be spur-of-the-moment, and we all know that, despite best intentions, motivation levels often drop as challenges present," Dr Brindal said.