Elon Musk becomes world’s second richest person putting behind Bill Gates

Washington D.C.: Billionaire entrepreneur Elon Musk has added over $100 billion to his wealth this year, and has passed Microsoft co-founder Bill Gates as the world’s second-richest person.

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Tesla Inc Chief Executive Officer (CEO) Musk, 49, net worth surged $7.2 billion to $127.9 billion—above Gates at $127.7 billion for the first time—trigged by yet another 7 per cent jump in Tesla’s stock price. Precisely, Musk has added $100.3 billion to his net worth this year, according to the Bloomberg Billionaires Index, a ranking of the world’s 500 richest people. In January, he was ranked 35th.

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Many analysts say the wealth gap between Musk and Gate is not huge, and it’s possible they could switch places again. Musk, Gates, luxury billionaire Bernard Arnault, Facebook founder Mark Zuckerberg and Amazon founder Jeff Bezos (who’s ranked No. 1 with $182 billion net worth) are the only five centi-billionaires in Bloomberg Billionaires ranking of the world’s richest people. 

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It is worth mentioning that Tesla stock prices surge about 500 per cent in 2020, Tesla has become the most valuable carmaker in the world, by far, despite production that is a fraction of rivals such as Japan’s Toyota Motor and General Motors. Many market experts say share prices soared because investors have begun to feel more confident about the future of electric vehicles.

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