Elon Musk overtakes Bill Gates second richest person in the world and grows by $ 100 billion by 2020
Elon Musk overtakes Bill Gates to become the second richest person in the world after his net worth rose by $ 100 BILLION in a year – a fivefold increase to a total of $ 127.9 billion – after Tesla’s stock prices rose 500%. rose
- Elon Musk added more than $ 100 billion to his net worth this year to $ 127.9 billion
- He has overtaken Bill Gates as the second richest person in the world with $ 127.7 billion
- Musk’s fortune is the result of a massive rise in Tesla stock, which is up more than 500% so far this year
- On Monday, Tesla stock rose 6.58% to a record $ 521.85
- It saw Musk’s fortune grow by $ 7.2 billion in one day
- Musk started the year in 35th place on the Bloomberg Billionaires Index
Billionaire entrepreneur Elon Musk has caught up with Bill Gates to become the second richest person in the world just weeks after he overtook Mark Zuckerberg to become the third richest.
It means that only Amazon founder Jeff Bezos is now ahead of him in the rankings. In January, it was ranked 35th on the Bloomberg Billionaires Index.
Musks’ wealth soared after his electric car company Tesla was selected to join the S&P 500.
Tesla will join the S&P 500, a stock market index that measures the performance of 500 large companies listed on the US stock exchange on Dec. 21, after failing to cut back in September.
Elon Musk added more than $ 100 billion to his net worth this year to reach $ 127.9 billion
Musk overtook Bill Gates as the second richest person in the world with $ 127.7 billion
The 49-year-old’s net worth rose $ 7.2 billion to $ 127.9 billion, driven by a surge in Tesla’s stock price, according to Bloomberg.
The South African-born billionaire owns a 20 percent stake in Tesla, whose stock price has more than fivefold so far this year.
This year was a hugely successful year for Musk – who saw his rocket company SpaceX send four astronauts into space earlier this month, fulfilling his first commercial contract with the US space agency NASA.
This year alone, the Musk has seen its fortune grow by $ 100.3 billion.
About three-quarters of Musk’s net assets are in Tesla stock, which is valued more than four times as high as his stake in Space Exploration Technologies Corp. or SpaceX.
Tesla’s stock price is up more than 500% so far in 2020, which has contributed immensely to Musk’s wealth
Bloomberg Billionaires Index – Top Ten
1 Jeff Bezos $ 182 billion Amazon.com
2 Elon R Musk $ 128 Billion Tesla / Space X
3 Bill Gates $ 128 billion Microsoft
4 Bernard Arnault $ 105 billion LVMH Moët Hennessy – Louis Vuitton
5 Mark Zuckerberg $ 102 Billion Facebook
6 Warren Buffett $ 86.8 Billion Berkshire Hathaway
7 Larry Page $ 81.3 Billion Google Co-Founder
8 Sergey Brin $ 78.7 Billion Google Co-Founder
9 Steve Ballmer $ 76.1 billion Microsoft
10 Mukesh Ambani $ 74.0 billion Indian energy
As it stands, Tesla is already the most valuable car maker in the world, despite making a fraction of the number of vehicles produced by more established manufacturers such as General Motors, Volkswagen, Ford and Toyota.
Tesla is now valued at more than Disney, Toyota and Coca-Cola and has a market capitalization of nearly $ 500 billion.
To be eligible to participate in the S&P 500, a company must be located in the US, have a market capitalization of at least $ 8.2 billion, be liquid, and at least half of its shares must be available to the public, thus CNN. Companies must also report four consecutive quarters of earnings.
Tesla reported earnings for the fifth consecutive quarter with third-quarter sales of $ 8.77 billion.
Musk’s position at number two means that Bill Gates is only moving to third place for the second time in eight years.
Gates was knocked off the top spot he had held for years by Amazon.com founder Jeff Bezos in 2017.
Gates’ net worth of $ 127.7 billion would be much higher had he not donated so much to charity over the years.