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Elon Musk is now world’s second-richest person, as net worth has grown more than $100 billion this year

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Published: Nov. 23, 2020 at 9:55 p.m. ET
By Mike Murphy
Source: Market Watch
Feature Photo: Tesla Logo

Credit Tesla stock, which shot up 6% Monday and is up more than 500% year to date

Elon Musk has added more than $100 billion to his net worth this year, and has passed Bill Gates as the world’s second-richest person.

That’s according to the Bloomberg Billionaires Index, which on Monday ranked the Tesla Inc. chief executive — with a $127.9 billion fortune — above Gates — at $127.7 billion — for the first time.

Musk has profited from the massive surge in Tesla stock, which has skyrocketed more than 520% year to date. Tesla TSLA, +6.42% rose more than 6% to a record close of $521.85 in Monday trading, ending the day with a market cap of around $464 billion. That equated to a $7.2 billion single-day gain in Musk’s net worth.

Musk began the year in 35th place on the index.

Bloomberg noted Gates, the co-founder of Microsoft Corp. MSFT, +1.78%, would likely place higher if he had not given away more than $27 billion of his fortune to the Gates Foundation since 2006.

Amazon.com Inc. AMZN, +0.63% Chief Executive Jeff Bezos is the world’s wealthiest individual, with a fortune of $182 billion, according to Bloomberg, up more than $67 billion this year.

Elon Musk is on the cutting edge, in his own words, of matters such as Space Travel. Why do you think ELon Musk has finally broke the top 20 wealthiest people in the world list recently? What are the implications? Are you interested in Space Travel?

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