Elon Musk surpasses Bill Gates; becomes 2nd richest person in the world
Elon Musk's growth this year has been phenomenal Twitter

Elon Musk surpasses Bill Gates; becomes 2nd richest person in the world

Elon Musk has managed to add $100.3 billion to his net worth in 2020

SpaceX’s Elon Musk officially surpassed Bill Gates as the second-richest person in the world on Monday. The shuffle in rankings was boosted by a surge in the share price of Tesla Inc.

According to a Fortune report, Musk’s net worth rose from $7.2 billion to $127.9 billion on November 23. His growth this year has been phenomenal as the entrepreneur has managed to add $100.3 billion to his net worth in 2020. The report added that Musk had added the highest amount to his net worth in 2020 with over $ 100 Billion, according to the Bloomberg Billionaires Index.

Musk’s automobile company has been highly profitable as Tesla shares have been valued at over four times the 49-year-old’s stake in the space firm, SpaceX. Three-fourth of Musk’s fortune is owed to the worth of Tesla Inc.

It is only the second time in the history of the billionaires’ index that Microsoft owner Gates has ranked below second. His generous charity endeavours have surely affected the rankings. As per reports, Gates donated over $27 billion to the Bill & Melinda Gates Foundation since 2006. Alongside, he has been continuously aiding various researches and uplifting missions. The foundation that is co-chaired by Bill and his wife Melinda is also backing COVID-19 vaccine research and working with the World Health Organization (WHO) regarding delivering a safe vaccine to people across the world.

Till 2017, Gates occupied the top spot, before getting dethroned by Amazon owner Jeff Bezos, who continues to hold the title of the world’s richest person. Another interesting trend that was seen this year was the profit gained by the billionaires of the world, even as the working class and poor have been struggling to hold on to their jobs and maintain a steady source of income.

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