Second Richest Man In The World : Elon Musk

This post is taken from IZILAT blog repost here

Elon Musk is an entrepreneur or a businessman and known for Tesla Inc. and SpaceX. Tesla Inc. or Tesla Motors Inc. is a company that make electric vehicles and clean energy products while SpaceX or Space Exploration Technologies Corp. is a company that make aircrafts and related and associated products like spacecraft and rocket.

His Tesla job makes him climb the second riches man in the world according to the news.

“Tesla's skyrocketing share prices have made Elon Musk the world's second-richest person, with a net worth of nearly $128 billion, according to the Bloomberg Billionaires Index. Musk edged past Bill Gates on Tuesday…….Bloomberg reported that the Tesla CEO has added more than $100 billion to his net worth in 2020, propelling him from the 35th spot on the index up to No. 2. Most of Musk's wealth is tied up in Tesla stock. Instead of drawing a salary, he has been compensated in stock based on the company's performance — a decision that has paid off handsomely for him so far. Tesla stock has repeatedly defied skeptics and pushed to stratospheric heights. So far, Musk has received four of the 12 bonuses negotiated in his executive compensation package. After some production challenges, Tesla has massively scaled up its output of electric cars, which have proved popular — the Model 3 is the bestselling luxury car in America. And Wall Street is feeling optimistic about the future of electric vehicles and clean energy as companies and governments around the world propose increasingly meaningful actions to tackle climate change.”(NPR)

“Elon Musk has passed Microsoft co-founder Bill Gates to become the world’s second richest person, according to the Bloomberg Billionaires Index. The Tesla CEO’s net worth now sits at around $128 billion, after increasing by $100 billion this year. There is a sizable gap between Musk and the number one spot, which is currently held by Amazon CEO Jeff Bezos who has a reported net worth of around $182 billion. In January, Musk ranked 35th on the list, Bloomberg reports.”(The Verge)

“Musk’s rapid ascent up the list has mainly been driven by Tesla’s share price. The car company currently has a market cap of almost $500 billion, after starting the year at under $100 billion. The Guardian reports that Tesla has the highest market cap of any car company in the world, despite producing a fraction of the cars of more established automakers. This year it expects to produce 500,000 cars, compared to around 10 million for a company like Toyota. Around three quarters of Musk’s net worth consists of Tesla shares, according to Bloomberg.” (The Verge)

“Elon Musk has officially overtaken Bill Gates to become the world's second-richest person. Musk saw his net worth rise by about $7 billion to $128 billion on Monday, according to the Bloomberg Billionaires Index, as Tesla's market value topped $500 billion…….The increase in Musk's wealth places him second to Jeff Bezos, who is currently the world's richest person with a net worth of $182 billion.”(Business Insider)

The main point : Elon Musk is now the second richest man in the world beating Bill Gates on the second spot.