Elon Musk grabs world’s second richest ranking. Elon Musk topples Bill Gates to grab world’s second richest ranking.
The maverick chief executive of Tesla has overtaken Bill Gates to become the world’s second richest person with a fortune of $128bn (£97bn) fortune after the electric car company he helped found 17 years ago soared in value to more than $500bn.
According to the publication, the South African-born American entrepreneur’s net worth rose by $7.2bn (£5.4bn) to $127.9 billion as the CEO of Tesla is now ranked immediately behind the Amazon boss, Jeff Bezos.
Elon’s fortune increased by $100bn so far this year as investors worldwide rush to buy shares in the electric car company, which is seen as key in helping the world to shift its reliance from fossil fuels to electricity.Tesla shares, which rose more than six-fold in 2020, jumped 4.6% on Tuesday to $546-a-share taking its stock market value to $517bn.
Musk, who owns 20 per cent shares in the Tesla company, witnessed his wealth jump by $7.2bn to $128bn on Tuesday. According to Fortune, Elon 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. Meanwhile, Amazon’s Jeff Bezos remains the world’s richest man, as per Bloomberg’s index.
Besides his electric company, Musk also exhibits his interests in spacecraft as his company SpaceX dent four astronauts to the International Space Station last week.
Moreover, the space company is about to launch 60 broadband internet satellites into orbit, after suffering delays due to poor weather conditions.
Earlier, the 49 years old entrepreneur overtook Facebook’s Mark Zuckerberg and grabbed a spot on among the wealthiest of the world.
The CEO of Facebook has fallen back into the fourth spot this week, behind the French businessman Bernard Arnault, the CEO of LVMH, the world’s largest luxury goods company.