November 26, 2020

Elon Musk Set To Unseat Bill Gates As The Second Richest Man In The World

Elon Musk set to Unseat Bill Gates as the Second Richest Man in the World.

Elon Musk the Tech guru and Entrepreneur is few billions away to unseat the current second richest man in the world.

Space X and Tesla CEO saw his net worth rise from $ 10.2billion to $120billion as a result of Tesla shares.

This year has been a great year for the 49-year-old Entrepreneur. And his wealth saw a commendable rise with his net worth growing by $87.8 billion as his Tesla sales surged almost 500%. The rise in his fortune came as a result of its inclusion in the SP 500 index.

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According to the Bloomberg Billionaire Index, his wealth jumped 82.2 billion dollars this year.  it is possibly the biggest gaining the ranking of the world’s 500 richest people. Tesla stocks gained this year due to a rise in retail investing during the pandemic lockdown. The history of his wealth stems from a large stake in Tesla and his other companies like Space X and the Boring Company.

In addition, there is a frenzy among investors for Tesla Stocks which are not for the US alone. South Korea retail investors also piled into the American auto maker’s stocks. Currently, Tesla valued at $464 billion and is now the largest company in the US by revenue.

In Summary, Elon’s fortune grew at an astonishing rate this year, and with this meteoric rise, he could unseat Bill Gates to become the second richest man in the world; as the margin between their networth is getting slimmer.