Serial Entrepreneur Elon Musk Outstrips Bill Gates As Second-Richest Person In The World


Tech World

Nov. 27, 2020, 4:40 p.m.

Serial entrepreneur Elon Musk, has outstriped the co-founder of Microsoft, Bill Gates as the second-richest person in the world after his wealth spiraled in the last few days.

Reported by the Bloomberg Billionaires Index, the SpaceX CEO now has $127.9 billion putting him right behind the CEO of Amazon Jeff Bezos who has $182 billion.

His elevation was a result of a rise in Tesla shares which gave him $7.2 billion. In January, the billionaire was 35th on the index but his networth has now soared by over $100 billion.

Despite a pandemic, Tesla's stock price has quadrupled since the beginning of it. The company’s shares surged drastically this few days as a result of being selected as part of S&P 500 index of leading US companies a week ago.

Tesla has the highest market value of any car company in the world which is now $500 billion. Besides running SpaceX and Tesla, Mr Musk is very involved in the real estate business owning and selling multiple properties and houses.

Similarly to Mr Gates and business tycoon Warren Buffet, Mr Musk signed the Giving Pledge in 2012 and promised to give a large amount of his money to charitable causes. He has given $10 million to the Future of Life Institute which is committed to making sure artificial technology benefits humans.

The billionaire also has his own charity, the Musk Foundation, that he has donated millions of dollars worth of Tesla stocks to. Earlier this month Mr Musk tested positive for coronavirus but blasted the tests as ‘bogus’ after two came back negative and two positive

This year he also became a father again after he had his first son with his girlfriend Grimes in May. The couple have been together since 2018 and made headlines when they named their child X Æ A-12. Mr Musk already has children with his ex-wife Justine Musk, who he was married to for eight years.

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Verny Joy Author

Verny loves to write poetry, fiction and quotes. Her love for writing landed her in journalism. She loves gadgets and travelling to explore new places.