Home Global News Elon Musk Becomes World’s Second Richest Man, Leaving Behind The Bill Gates

Elon Musk Becomes World’s Second Richest Man, Leaving Behind The Bill Gates

by Shatakshi Gupta

The assets of Tesla CEO and co-founder Elon Musk have increased exponentially this year.  In January this year, he was ranked 35th in the Bloomberg Billionaires Index of the world’s 500 richest and is now in second place.  Musk has secured this rank, surpassing Microsoft co-founder Bill Gates, and now he is only behind Amazon CEO Jeff Bezos in this list of the rich.

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 The assets of 49-year-old Musk have increased by $7.2 billion to $127.9. The main reason for the rise in Musk’s wealth was the rise in the stock price of his company Tesla.

 Tesla increases Musk’s net worth

This year, Musk’s wealth has increased the most among the rich included in the Bloomberg Billionaires Index.  Since January this year, Musk’s assets have increased by 10.03 thousand crore dollars (7.44 lakh crore rupees).  The increase in Tesla’s market price has also increased Musk’s wealth.  Three-fourths of Musk’s net worth is in the form of Tesla shares.  Musk’s net worth at Tesla is nearly four times his net worth at Space Exploration Technologies Corporation (SpaceX).  Tesla is soon to become a company with a market value of $500 billion.

Gates slipped from second rank for the second time

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 The Bloomberg Billionaires Index has been preparing this ranking for the last eight years.  Ever since this ranking is being prepared, this is the second time Microsoft co-founder Bill Gates is below the second position.  Earlier, he was the richest person in the world for many years, ie the world’s richest man, but in 2017, Jeff Bezos, the founder of Amazon, overtook him and took the first place and since then he is the richest person in the world.  The net worth of Bill Gates is currently $127.7 billion.  It would have been even more if he had not donated to charity.  Since 2006, he has donated $ 2700 crore (Rs 2 lakh crore) to the Gates Foundation.

Increased wealth of billionaires amid pandemic

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 This year, the Corona pandemic has affected the working class and the poor severely.  Apart from this, many people have also lost employment.  On the other hand, rich people became more wealthy.  Talking about Bloomberg Billionaires Index, the net worth of people included in this list has increased by 23 per cent to $1.3 trillion, since January this year. 

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