Elon Musk Now World’s Second-Richest Man Ousting Bill Gates

The firebrand entrepreneur and Tesla co-founder Elon Musk has moved up the ranks becoming the second-most wealthy person in the world, according to the Bloomberg Billionaires Index.

Posted On: November 24, 2020

By Gabriel Nix | The Enfield

The firebrand entrepreneur and Tesla co-founder Elon Musk has moved up the ranks becoming the second-most wealthy person in the world, according to the Bloomberg Billionaires Index.

In his accent, Musk has just narrowly ousted Bill Gates for the position, seeing his net worth soar to $127.9 billion.

Musk’s advance is driven primarily by his shares in Tesla Inc. which makeup roughly three-quarters of his total net worth. The company broke records achieving a market valuation of at least $500 billion for the first time on Tuesday. Shares in Tesla have risen sharply, nearing a gain of 550% on the year.

This year alone, Musk has added over $100 billion to his net worth, an increase of over 360% from January when he was ranked 35th.

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