Elon Musk becomes second richest person globally as he overtakes Bill Gates

Cornelia Mascio
Ноября 24, 2020

Musks' wealth soared after his electric vehicle company Tesla was selected to join the S&P 500.

Tesla's stock price surge added $7.2 billion to Musk's $127.9 billion wealth, as per the Bloomberg Billionaire's Index (BBI).

According to Bloomberg, approximately 75% of Musk's wealth is comprised of Tesla shares (NASDAQ: TSLA).

The year has been a lucrative one for the world's richest people.

With his recent gains, Musk now remains only behind Amazon founder Jeff Bezos, whose net worth is about $182 billion.

That Musk had surpassed Gates came as news to Twitterati who expressed their astonishment with hilarious memes.

Considering he started 2020 as the world's 35th richest man on the same list, you could say 2020 has not been as bad for Musk as it's been for the rest of the world, far from it.

About three-quarters of his net worth consists of only Tesla shares, valued more than four times as much as his stake in Space Exploration Technologies Corp., better known as SpaceX, the Bloomberg report stated.

As it stands, Tesla is already the most valuable auto maker in the world, despite making a fraction of the number of vehicles that are churned out by more established manufacturers such as General Motors, Volkswagen, Ford and Toyota.

Tesla itself is now close to $500 billion in value. He previously said he wouldn't take any cash salary from Tesla until it hits $100 billion in market cap.

Tesla reported its fifth consecutive quarter of profit with third-quarter revenue of $8.77billion. It also marks the first time in eight years when Microsoft co-founder Bill Gates does not occupy one of the top three positions. Gates's net worth of $127.7 billion would be much higher had he not donated so prodigiously to charity over the years, noted Fortune (he has given more than a whooping $27 billion to his namesake foundation since 2006).

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