Elon Musk passes Bill Gates to become second richest person in the world
Elon Musk has rocketed past Bill Gates to become the second richest person in the world, according to the Bloomberg Billionaires Index.
The Tesla CEO, who is also the co-founder of space exploration firm SpaceX, saw his net worth rise by $7.2 billion to $128 billion on Monday. In 2020 alone, Musk has seen his net worth spike by $100.3 billion, the biggest increase among anyone on the list.
In January, the 49-year-old entrepreneur was ranked number 35 out of the world’s 500 most rich people. His surge in wealth has been primarily driven by Tesla’s share prices, which have continued to climb following news that the company would be admitted to S&P 500 index in December.
The move marks a milestone for Tesla and paves the way for the Silicon Valley electric car maker to pivot into a mainstream producer of vehicles.
Musk’s other major undertaking, SpaceX, has also recently been the in the spotlight after it successfully transported four astronauts to the International Space Station on its Crew Dragon Spacecraft. The trip comes after the company in May successfully crewed its first flight to space.
Last week, Musk surpassed Facebook CEO Mark Zuckerberg to claim the third spot on the list, which is now occupied by Microsoft co-founder Bill Gates.
Gates’ net worth of $127.7 billion would be significantly higher, however, if it weren’t for his philanthropic endeavors. According to CNBC, he has given over $27 billion to the Bill and Melinda Gates Foundation since 2006.
Musk on Tuesday still remained significantly behind Amazon founder Jeff Bezos, whose net worth stands at about $182 billion.
