Not Bill Gates, but Elon Musk is now the second richest person in the world


With a net worth sitting at a grand $128 billion, Elon Musk has now become the second richest person in the world, as per the Bloomberg Billionaire Index. Next only to Jeff Bezos, the Tesla CEO’s wealth is said to have increased by a whopping $100 billion this year alone.

The maverick’s jump on the list is credited mainly to Tesla’s increasing share price. The car company currently boasts a market cap of almost $500 billion, after starting the year at under $100 billion. Instead of getting a salary, Musk gets compensated in stock based on Tesla’s performance, which, so to say, has been stellar this year. Thanks to it, the businessman has been credited with 12 bonuses negotiated in his executive compensation package so far.

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In addition to Tesla’s spectacular share price, Musk’s other major venture- SpaceX, has also seen success in recent times. Ironically, the entrepreneur ranked 35th on the list in January while Bill gates topped the Billionaires Index for years until Jeff Bezos overtook him in 2017. Musk first overtook Facebook CEO Mark Zuckerberg last week and then went on to pass Gates for the second spot. Well, considering the 524 percent growth in Tesla’s stock – we aren’t surprised!

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[Via: Tatler Singapore]