Elon Musk Is Now The Second Richest Person In The World Surpassing Bill Gates

This year turned out to be the most lucrative year for the richest people in the world. Focusing on top spots in the list of 500 richest people list, Elon Musk has now acquired the second spot in the list.

Jumping from the 35th spot to the 2nd spot, Musk’s leap is highly appreciated along with his working skills.

Such advance up in the wealth rank has been largely driven by Tesla. Tesla has a market value approaching approximately $500 Billion raising Elon Musk’s net worth to $127.9 billion.

With a 6% increase in Tesla’s share on 23rd November, Monday, Musk run company approached the $500 Billion index resulting in extending the gains to 27%.

Tesla is by far the most valuable automaker, considered five times more valuable than Ford and General Motors combined.

Acquiring the seventh position in Wall Street’s most valuable company, the 6% increase in the shares remarkably increased Elon Musk’s net worth from $7.2 billion to $127.9 billion.

See Also: Tesla Likely To Set Up Its R&D Centre In Karnataka

Image Source: BBC

Marking the most significant increment in the graph, Musk has left Behind Bill Gates.

Bill Gates, acquiring the top spot for years, in 2017, Jeff Bezos, founder of Amazon Inc, surpassed him.

In 2017, Bill Gates’s net worth decreased to $9.6 billion but later in 2019, in November, Bill Gates reclaimed his position of the “richest person on earth” when his net worth increased to $1111 billion.

After extensive donations for charities, Bill Gates’s present net worth is $127.7 Billion meanwhile the 49-year old billionaire, Elon Musk, raised his net worth to $127.9 Billion.

Musk is the only person in the Bloomberg Billionaires index who raised $100.3 Billion to his net worth.

Overall gain acquired by the members of the Bloomberg index is approximately calculated as 23% or $1.3 Trillion since the beginning of 2020.

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Kritika
Student with ambitions, writer with ideas.