Tesla founder and CEO Elon Musk became the second richest man in the world after surpassing Bill Gates by roughly $ 200 million.

In a single day, the 49-year-old businessman’s net worth rose from $ 7.2 billion to $ 127.9 billion, driven by continued Tesla stock price increases. Bill Gates’s wealth is $ 127.7 billion .

Musk has had a meteoric rise in 2020. He added $ 100.3 billion to his net worth this year, the highest figure on the Bloomberg Billionaires Index , a ranking of the 500 richest people in the world. In January it ranked 35th.

About three-quarters of his net worth is made up of Tesla shares, which are valued four times more than those he owns in his aerospace company, SpaceX. Shares of Tesla rose 6.6% on Monday alone, closing at an all-time high of $ 521.9 a share.

Musk’s milestone marks only the second time in the index’s eight-year history that Microsoft co-founder Bill Gates is below second. He held the top spot for years before he was replaced by Amazon founder Jeff Bezos.

Gates’ net worth of $ 127.7 billion would be much higher if he hadn’t made such generous donations to charities over the years. He has donated more than $ 27 billion to the foundation that bears his name since 2006. Jeff Bezos is currently the richest person in the world, with an estimated net worth of $ 182 billion.

Elon Musk seemed as surprised as the others upon receiving this news. When a Twitter user pointed out the movement in the stock on Monday, he responded with one word: “Wow.”

The year has been a lucrative one for the richest people in the world. Despite the pandemic and widespread layoffs that have disproportionately affected the world’s working class and poor. Members of the Bloomberg index have collectively gained 23%, or $ 1.3 trillion, since the year began. (I)

Amelia Warner– After graduating from NYU with a master's degree in history, She was also a columnist for many local newspapers. Amelia Warner mostly covers Entertainment topics, but at times loves to write about movie reviews as well.

Leave a Reply

Your email address will not be published. Required fields are marked *