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Elon Musk overtakes Bill Gates, becomes world's 2nd richest person

24 Novembre, 2020, 15:48 | Auteur: Auguste Feret
  • Elon Musk Is Now The World's Second Richest Person

Tesla's market value is approaching $500 billion.

Bloomberg reported Monday that Musk, the CEO of Telsa, surpassed Bill Gates to become the world's second richest person behind Jeff Bezos.

A week ago, Elon Musk became the third-richest person in the world surpassing Facebook CEO Mark Zuckerberg.

Musk's net worth has shot by $7.2 billion with the latest surge in Tesla's share price, all the way to $127.9 billion.

So far this year, 49-year-old entrepreneur's has added more than $100bn to his wealth, making him one of the biggest movers among the world's richest billionaires. He has climbed from 35th in the rankings in January.

According to Bloomberg, approximately 75% of Musk's wealth is comprised of Tesla shares (NASDAQ: TSLA).

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This year has been a wildly successful year for Musk - who saw his rocket company SpaceX send four astronauts into space earlier this month, fulfilling its first commercial contract with the United States space agency Nasa.

Musk's net worth is not exclusively down to a large stake in Tesla, but also to his other companies, space exploration group SpaceX and infrastructure and construction firm The Boring Company.

Musk's milestone marks exclusively the second time within the index's eight-year historical past that Microsoft Corp.co-founder Gates has ranked decrease than quantity two.

Amazon founder Jeff Bezos has been the world's richest man since 2017, when he bumped Bill Gates from the top spot.

Goldman Sachs expects a tidal wave of large-cap mutual funds tracking the S&P 500 to fuel another rally for the automaker next month, when it will join the index as one of the 10 most valuable members on December 21. Gates's net worth of $127.7 billion would be much higher had he not donated so prodigiously to charity over the years. Based on its market value, the electric vehicle maker would be one of the top 10 companies in the benchmark index upon entry.

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