Tesla CEO and tech giant Elon Musk, has surpassed Bill Gates to become the world’s second-richest person as Tesla’s market cap inches closer to $500 billion.
Musk’s net worth swelled by more than $7.2 billion on November 23, driven by another surge in the Tesla share price.
The leap is astounding as just earlier in the year, around January, Musk was the 35th richest man in the world and his current spot is vastly due to the rise in Tesla share prices.
Since the beginning of this year, the members of the Bloomberg Index have collectively gained 23% — or $1.3 trillion.
After beating Mark Zuckerberg in world rich list ranking — the billionaire Tesla CEO Elon Musk has now leapfrogged Bill Gates to grab the world’s second-richest ranking.
Musk’s net worth rose more than $7.2 billion on November 23, driven by another surge in the Tesla share price, according to the Bloomberg Billionaire Index. The current net worth of Elon Musk stands at $127.9 billion.
This comes as one of the biggest gains in the ranking of the world’s 500 richest people — Musk has added over $100.3 billion to his net worth this year.
Meanwhile, Bill Gates’ drop is mainly due to his philanthropic dealings with huge sums being used to fight diseases in third world countries.