Elon Musk has become the second-richest person in the world, passing Microsoft co-founder Bill Gates for the first time.
According to the Bloomberg Billionaires Index (BBI), Tesla and SpaceX head added $100bn to his net worth in 2020 to take it up to an estimated total of $127.9bn, It sees Elon Musk, 49, surpass the estimated wealth of Bill Gates at $127.7bn.
Musk’s wealth has been driven by Tesla’s all-time high share value, with the electric car company approaching a $500bn valuation.
Musk owns 20 per cent of Tesla shares. Tesla has been on a hot streak since it was announced that the company would be added to the S&P 500 stock market index, one of the most-followed indices across the world.
Musk has added $100.3 billion to his personal wealth in 2020, the highest compared to anyone else on the BBI. Ealier this year, he was the 35th richest in January.
It is the second time in the history of Bloomberg’s Billionaires Index that Mr Gates has dropped out of the top two. Gates held the top spot for four years before being toppled by Amazon founder, Jeff Bezos in 2017.
Jeff Bezos remains the richest man in the world, with an estimated net worth of $182bn.