Elon Musk Kicked Bill Gates from the Second Richest Person in the World

Elon Musk Kicked Bill Gates from the Second Richest Person in the World

Tesla and SpaceX founder Elon Musk has officially overtaken Microsoft founder Bill Gates as the second richest person in the world. Musk's net worth has increased by $ 7 billion to $ 128 billion.

Musk's increase in wealth is inseparable from the increase in Tesla's market value which is approaching the $ 500 billion. In fact, last year's market capitalization of Tesla was the $ 45 billion.

According to Business Insider, Musk's wealth is still far from the wealth of Amazon owner Jeff Bezos. The richest person in the world has a net worth of up to $ 182 billion.

Tesla's market cap jumped significantly as it was set to join the exclusive S&P 500 index and Morgan Stanley increased its stake.

Tesla's shares were up 2 percent in pre-market trading earlier this week and their shares are up nearly 730 percent this year.

Elon Musk and Bill Gates, source: daily mirror
Elon Musk and Bill Gates, source: daily mirror

Musk and Gates have had a conflicted year as they repeatedly disagree on everything from the coronavirus to electric cars. Musk is known to have teased Gates who bought the Porsche Taycan electric car.

Musk even called Gates a "fool" for criticizing his efforts to conduct a study of the coronavirus antibody.

According to The Guardian, three-quarters of Musk's net worth comes from Tesla shares. If Tesla's share price growth continues, Musk could land a $ 55.8 billion bonus deal.

To trigger the maximum bonus, he would need to build Tesla into a $ 650 billion company by 2028.

Tesla has the highest market value of any auto company in the world, even though it produces far fewer vehicles than others. Tesla is set to sell up to 500,000 electric vehicles this year, compared to Japanese carmaker Toyota's annual output of around 10 million.

Musk is also involved in spacecraft through his company, SpaceX. Last week, he sent four astronauts to the International Space Station on Falcon rockets and Dragon capsules under a commercial contract with NASA.

SpaceX will also launch 60 broadband internet satellites into orbit, after experiencing delays due to bad weather conditions.

Previously, Elon Musk overtook Facebook boss Mark Zuckerberg, who is now fourth on the list of the world's richest people. Mark Zuckerberg's total wealth is recorded at $ 108 billion.

Source : CNN Indonesia

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