Elon Musk Goes Ahead Of Bill Gates, Becomes 2nd Richest Person In World

Elon Musk has made a staggering $100.3 billion this year alone to emerge as the second richest man in the world.

Elon Musk become the second richest man in the world with an asset of about $127.9bn.

The billionaire entrepreneur added $100.3 billion to his net worth this year, surpassing Bill Gates to become the 2nd richest person in the world, according to Bloomberg Billionaires Index.

The 49-year-old entrepreneur’s net worth rose from $7.2bn to $127.9bn, all thanks to a further surge in Tesla’s share price. It has soared by more than $100bn this year.

Musk who was in 35th place in January on the Bloomberg Billionaires Index has outranked everyone else on the world’s 500 richest people list.

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The electric car company chief executive is now ranked immediately behind Amazon boss Jeff Bezos.

Tesla’s shares have surged since the company was selected to join the S&P 500 index of leading US companies a week ago, driving its market value close to $500bn. Three-quarters of Musk’s net worth comes from Tesla shares.

If Tesla’s share price growth continues, Musk could net a bonus deal worth a record $55.8bn. To trigger the maximum payout he has to build Tesla into a $650bn company by 2028.

Gates, who co-founded Microsoft, was the world’s richest person for years before being knocked off the top slot by Bezos in 2017. Gates’s fortune is worth $127.7bn but would be higher had he not donated big sums to charity over the years.

He has given more than $50bn to help fight diseases and tackle poverty, mainly through the Bill and Melinda Gates Foundation, which has also backed the development of Covid-19 vaccines.