Elon Musk Overtakes Bill Gates to become World’s Second-richest Person

Source: Free Journel

Elon Musk overtakes Bill Gates to become the world’s second-richest person. The 49-year-old entrepreneur’s net worth soared $US7.2 billion to $US127.9 billion ($175 billion), in yet another surge in Tesla’s share price. 

In January he ranked 35th. His advance up the wealth ranks has been driven largely by Tesla, whose market value is approaching $US500 billion. About three-quarters of his net worth consists of Tesla shares, which are valued more than four times as much as his stake in SpaceX.

Meanwhile, Amazon co-founder Jeff Bezos remains on top of the list with a net worth of $US182 billion. Musk’s milestone marks only the second time in the index’s eight-year history that Microsoft co-founder Gates has ranked lower than number two. He held the top spot for years before being bumped by Bezos in 2017. Gates’s net worth of $US127.7 billion would be much higher had he not donated so prodigiously to charity over the years.