Elon Musk Overtakes Bill Gates To Become The World Second Richest Person

Tech entrepreneur Elon Musk has overtaken Microsoft founder Bill Gates to become the world's second-richest person, a week after overtaking Facebook co-founder, Mark Zuckerberg.

According to Bloomberg Billionaire Index, Amazon founder Jeff Bezos who sits at the number 1 spot is the only person richer than Mr. Musk, who at the beginning of this year was the 35th richest person.

Also Read: A Single Tweet From Elon Musk Wipes $14B Off Tesla's Value

The Tesla founder net worth jumped by $7.2bn to $128bn (£97bn) after shares from Tesla surged as investment funds rush to buy stakes in advance of the company's debut on the US blue chip S&P 500 index next month.

In a speech on Tuesday in Germany, Mr. Musk said it would "make sense" for Tesla to expand in Europe by entering the mass-market segment with a small car.

"In the US, the cars tend to be bigger for personal taste reasons," Musk said. "In Europe, (they) tend to be smaller."

The news sent shares in the electric carmaker jumped by 34% on Tuesday boosting the value of Mr Musk's holdings in the company. 

Bill Gates, for over a decade was the world's richest man until 2017 when he lost the top spot to Jeff Bezos. Gates whose fortune is worth $127.7bn was the CEO of Microsoft until 2000 when he stepped down from the position to be able to focus on the Bill and Melinda Gates Foundation. 

The Microsoft co-founder, this year stepped down from Microsoft board to focus more on philanthropy. He is said to have donated over $45 billion to charity.

1 comment:

  1. i love this guy, he has always been my inspiration

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