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

Tesla CEO Elon Musk has become world’s fourth-richest person after firm’s shares surged 11 per cent on August 17, boosting his net worth by $7.78 billion. According to Bloomberg Billionaires Index, X founder’s net worth w stands at $84.8 billion, pushing French luxury tycoon Bernard Arnault and RIL Chairman Mukesh Ambani to fifth and sixth place respectively.

Musk has been a controversial figure on social media platforms and company’s shares have plummeted in past over his irresponsible tweets. In 2018, he had to resign as chairman of electric car maker after US Securities and Exchange Commission sued him over rogue tweets. This year, however, Tesla executive’s fortune has grown by $57.2 billion, biggest increase after Amazon founder Jeff Bezos’ $73 billion gain.

After a successful X’s Crew Dragon launch, Musk anunced that aero company is building floating ports to provide launch sites for Super Heavy-class launch vehicles. Meanwhile, Tesla is building RNA micro-factories for CureVac, a German biotech firm which has received regulatory approval from German and Belgian authorities to initiate Phase 1 Clinical Trial of its COVID-19 vaccine candidate.

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Ambani at 6th place

In terms of total net worth, tech entrepreneur w behind Bezos, Microsoft corp principal founder Bill Gates, and Facebook CEO Mark Zuckerberg. Or billionaires who have witnessed a substantial surge in ir net fortune in 2020 are Zukerberg and Ambani, both recording over $20 billion increase.

Since January, Indian billionaire Mukesh Ambani has moved up eight places on world’s wealthiest person list and cracked into top 10 for first time in June as giant conglomerate kept receiving investments from companies like Facebook Inc., Silver Lake and BP Plc. He has left Warren Buffet, Steve Ballmer, and Larry P behind on wealthiest person’s list.

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(Im: AP)