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

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

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 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 X. Apart from Tesla, his remaining riches are a direct benefit from his stake in  Exploration Techlogies Corp., or X.

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Musk has been a controversial figure on social media platforms and company’s shares have plummeted in past over his irresponsible tweets. business tycoon has reportedly attracted online flak after downplaying coronavirus and underscoring COVID-19fatltities. Recently, he caught 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 second time in index's eight-year history that Microsoft Corp. co-founder Gates has ranked lower than number two. He held number 1 spot in list until Amazon Founder Jeff Bezos surpassed him in 2017. However, observers assert that Gates would have been much richer h he t 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.

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