Elon Musk tops Bill Gates as the world’s second-richest person

Elon Musk tops Bill Gates as the world’s second-richest person

KOLKATA (India) — Tesla CEO Elon Musk becomes the second-richest person in the world after stocks skyrocketed Monday, as he predicted last year.

Tesla’s market value topped $500 billion, taking Musk’s net worth to $128 billion, a rise of $7 billion according to the Bloomberg Billionaire Index.

Despite the pandemic that has crippled economies, Bloomberg Index-holders has seen a collective spurt of fortune by 23% or 1.3 trillion since the year began.

Musk’s net worth now place him at the second position of the world’s most rich, with Amazon founder Jezz Bezos still occupying the top stop at $182 billion.

Apart from Tesla’s recent surge in stock prices, the electric car-maker was also added to the S&P 500 one of America’s main share indexes which helped catapult the growth.

Elon Musk’s newfound billionaire status comes at a time when Tesla enjoys being the world’s most valuable carmaker despite making a fraction of vehicles what rivals Toyota, General Motors and Volkswagen make.

Bloomberg’s Billionaire Index says the Space X-owner added the whopping $100 billion fortune in just a year, which is more than anyone in the Bloomberg’s index.

Just in January, his rank was at 35th. Musk also predicted last year that tesla’s market capitalization would reach $500 billion. Musk’s fortune owes majority to Tesla where he holds most valuable shares as compared to his stakes on the other firm Space X.

Bloomberg News noted, Musk displacing Bill Gates from the second place marks only the second time the Microsoft founder has been placed below the second spot of the Index.

For years Gates has retained the second spot in the Index, and prior to that, he held the first spot before being toppled by Amazon founder Jeff Bezos in 2017.

Bloomberg News noted, had Gates not donated so generously to charities and recently on COVID-19 vaccine development, his index would have been better on the list. In Bill and Melinda Gates Foundation, the billionaire has donated $27 billion.

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