Elon Musk Overtakes Bill Gate To Become World’s Second Richest Man

Billionaire Businessman, Elon Musk, has moved above Bill Gate to become the second richest man alive.

The entrepreneur added $100.3 billion to his net worth this year, surpassing Bill Gates to climb his latest feat of becoming 2nd richest person in the world.

His net worth rose from $7.2bn to $127.9bn, as a result of further surge in Tesla’s share price. It has soared by more than $100bn this year.

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Musk who was in 35th place in January on the Bloomberg Billionaires Index has outranked everyone else on the world’s 500 richest people list.

The 49-year-old entrepreneur’s is now ranked immediately behind Amazon boss Jeff Bezos.

Tesla’s shares have surged since the company was selected to join the S&P 500 index of leading US companies a week ago, driving its market value close to $500bn. Three-quarters of Musk’s net worth comes from Tesla shares.

If Tesla’s share price growth continues, Musk could net a bonus deal worth a record $55.8bn. To trigger the maximum payout he has to build Tesla into a $650bn company by 2028.