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

Tesla CEO Elon Musk has become the world’s fourth-richest person after the firm’s shares surged 11 per cent on August 17, boosting his net worth by $7.78 billion. According to the Bloomberg Billionaires Index, SpaceX founder’s net worth now 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 the company’s shares have plummeted in the past over his irresponsible tweets. In 2018, he had to resign as chairman of the 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 SpaceX’s Crew Dragon launch, Musk announced that the aerospace company is building floating spaceports 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, the tech entrepreneur now behind Bezos, Microsoft corp principal founder Bill Gates, and Facebook CEO Mark Zuckerberg. Other billionaires who have witnessed a substantial surge in their 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 the world’s wealthiest person list and cracked into top 10 for the first time in June as the giant conglomerate kept receiving investments from companies like Facebook Inc., Silver Lake and BP Plc. He has left Warren Buffet, Steve Ballmer, and Larry Page behind on the wealthiest person’s list.

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(Image: AP)