Elon Musk’s Net Worth Surpasses Bill Gates to Become World’s Second Richest Person

Elon Musk

Tesla’s co-founder Elon Musk recently surpassed Microsoft’s, Bill Gates in the net worth run. Musk become the second richest person on the earth on Monday. According to the Bloomberg Billionaires Index, Elon Musk’s net worth is now more than 128 Billion dollars.

49 years old billionaire and entrepreneur achieved this mark when its net worth went from 7.2 billion dollars to 127.9 billion dollars. This is due to the surge in the worth of Tesla’s share. In January this year, he stands at 35th position in the Bloomberg Billionaire Index of 500 people. This is by far the swiftest increase of 100 billion dollars in a year by anyone ever.  

This happens majorly due to the quick increase in the Tesla share value. The market value of Tesla is now approaching 500 billion dollars. More than 75% of Elon Musk’s Networth comes from Tesla’s share. This is four times more than his shares in Space Exploration Technologies, Space X. This shows how successfully Musk leads Tesla to new heights.

Elon Musk's Net Worth

It is only the second time in the history of BBI that Bill Gates go lower than second in rankings of billionaires. After maintaining the top spot for many years, in 2017 Jeff Bezos, CEO of Amazon, took the spot from Gates. Moreover, Jeff Bezos also crossed the 200 billion dollar mark this year, standing now at 182 billion dollars. It is the second time in the history of the index that Gates came down below second in position and Elon Musk’s net worth increased to 128 billion dollars.

However, Gates has given many billions to his foundation for charity. Otherwise, the worth situation may be different. Moreover, the Bill Gates Foundation is continuously spending on coronavirus vaccine to help people getting rid of this deadly virus. 

The coronavirus pandemic and lockdowns affect the lives of many people negatively. At the same time, many businesses get huge profits and increase their market value to many folds. It seems that COVID-19 affects the poor far more than the rich. This is because according to Bloomberg News, the index show increase of 23% or 1.3 trillion dollars overall irrespective of the pandemic. On the other hand, coronavirus becomes a curse for workers, daily wages, and an average person.

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