Elon Musk leapfrogs Bill Gates to become world's 2nd richest person, check his net worth

Tesla CEO Elon Musk, on November 23, passed his “sparring partner” Bill Gates to become the second richest person in the world. Musk’s net worth surged from $7.2 billion to $127.9 billion driven by an exponential rise in Tesla’s share price. The SpaceX Founder, who ranked 35th in Bloomberg Billionaires Index at the start of the year has grown fast adding $100. 3 billion to his net worth in 2020.

The 49-year-old business Magnate’s growth has been driven largely by Tesla, whose market value is nearing $500 billion. Musk was forced to give up his position of Chairman in the electric car manufacturing firm in 2018 after he was sued by US Securities and Exchange Commission. However, about three-quarters of his net worth are comprised of Tesla shares, which are four times higher than SpaceX. Apart from Tesla, his remaining riches are a direct benefit from his stake in Space Exploration Technologies Corp., or SpaceX.

Read: Elon Musk Talks About Life On Mars, Says First Colony To Be Built Using 'glass Domes'

Read: Elon Musk Takes 4 COVID-19 Tests In A Day; Expresses Frustration Over Inconclusive Results

Musk has been a controversial figure on social media platforms and the company’s shares have plummeted in the past over his irresponsible tweets. The business tycoon has reportedly attracted online flak after downplaying the coronavirus and underscoring the COVID-19fatltities. Recently, he caught the attention of vaccine developers after he claimed that he won’t be vaccinated even it was available for free.

Gates ranked third

Musk's milestone marks only the second time in the index's eight-year history that Microsoft Corp. co-founder Gates has ranked lower than number two. He held the number 1 spot in the list until Amazon Founder Jeff Bezos surpassed him in 2017. However, observers assert that Gates would have been much richer had he not donated a considerable proportion of his fortunes to hs namesake charity. As per officials records, he has given more than $27 billion to his foundation since 2006.

Read: Elon Musk Goes Past Mukesh Ambani, Becomes World's Fourth-richest Person

Read: Elon Musk's Starlink To Bring High-speed Satellite Internet Connection To India By 2021