Elon Musk Becomes Second Richest Person In The World

Daniel Fowler
November 24, 2020

Musk's wealth has been on a steady climb this month: Tesla's market cap soared as high as $498 billion Monday as it is set to join the S&P 500 in December.

The report said a rally by Tesla on Monday earned Musk about $7.2 billion, bringing his new net worth to $127.9 billion.

Tesla co-founder Elon Musk has become the second richest person in the world overtaking the Bill Gates, the founder of Microsoft.

Musk has added $100.3 billion to his net worth this year, the most of anyone on the Bloomberg Billionaires Index, a ranking of the world's 500 richest people, reported Fortune.

Musk's net worth is not exclusively down to a large stake in Tesla, but also to his other companies, space exploration group SpaceX and infrastructure and construction firm The Boring Company.

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"Wow", he wrote in response to a tweet about a surge in Tesla's share price.

For Bill Gates, this is the second time in the Bloomberg Billionaires Index's eight year history that he has been ranked lower than number two.

Musk's milestone marks exclusively the second time within the index's eight-year historical past that Microsoft Corp.co-founder Gates has ranked decrease than quantity two. Gates's net worth of $127.7 billion would be much higher had he not donated so prodigiously to charity over the years. He held the number one position for year before being displaced by Amazon founder Jeff Bezos. The times have been unfair, with the world's richest gaining a combined 23 percent or $1.3 trillion in wealth since January while the pandemic has left the world's working class and poor unemployed.

On Twitter, Musk has taken jibes at Gates for having "no clue" about electric trucks, while Gates has expressed concern at Musk's acceptance of COVID-19 conspiracy theories. The public differences began when Gates said even though he thought Tesla has helped drive electric-car innovation, he bought one from Porsche.

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