Business Finance

Elon Musk Beat Bill Gates To Become The World’s Second Richest Man

Elon Musk’s net worth is now $128 billion and he sits on the richest person in the world list right below Jeff Bezos.

Elon Musk has beaten Microsoft Founder Bill Gates to turn into the second most richest person in the world according to the Bloomberg Billionaires Index. Elon Musk’s net worth is now about $128 billion after it shot up by $100 billion this year.

It will take Musk a while to rise to to the number one position on the list which is held by Amazon CEO Jeff Bezos. There is a sizable gap among Musk and Bezos who has reported a net worth of $182 billion. Be that as it may, it has been a huge move for the Tesla and SpaceX CEO who was at rank 35 in January this year.

Musk’s rapid ascent has mainly been driven by Tesla’s share cost. The organization presently has a market cap of nearly $500 billion, after beginning the year at under $100 billion. 

According to a report in The Guardian, Tesla has the most elevated market cap of any vehicle organization on the world, notwithstanding producing a small amount of the vehicles when contrasted with more established automakers. This year Tesla hopes to produce 500,000 cars as compared to around 10 million to be produced by company like Toyota. Around three quarters of Musk’s net worth consists of Tesla shares, according to Bloomberg.

Musk’s other major endeavor, SpaceX, has additionally seen success recently. Last week the SpaceX transported four astronauts to the International Space Station (ISS) aboard its Crew Dragon spacecraft. This came just after SpaceX’s first crewed flight to space in May this year.