Back to headlines

img

Musk passes Gates as world's 2nd richest, gets $100bn richer in 2020

Elon Musk's year of dizzying ascents hit a new apex on Monday (US time) as the Tesla co-founder passed Bill Gates to become the world's second-richest person.The 49-year-old entrepreneur's net worth soared $US7.2 billion to $US127.9 billion ($175 billion), driven by yet another surge in Tesla's share price. Musk has added $US100.3 billion to his net worth this year, the most of anyone on the Bloomberg Billionaires Index, a ranking of the world's 500 richest people. In January he ranked 35th.

His advance up the wealth ranks has been driven largely by Tesla, whose market value is approaching $US500 billion. About three-quarters of his net worth is comprised of Tesla shares, which are valued more than four times as much as his stake in Space Exploration Technologies, or SpaceX.Tesla closed 6.5 per cent higher at $US521.85. A year ago, they were fetching around $US67.

News source ~ smh.com