Elon Musk Becomes the World’s Second Richest Man Beating Bill Gates
Tesla has played a key role in his rapid climb to spot number two.
Elon Musk has overtaken Bill Gates to be the second richest man in the world. He now has a revised net worth of USD 127.9 (about AUD 173.78) billion. About USD 100 (about AUD 135.87) billions of it was added only this year. It is interesting to note that Musk was on the 35th position on the Bloomberg Billionaire’s Index in January 2020 rankings. So, his climb is really appreciation worthy.
Tesla has played a key role in his rapid climb to spot number two. As per Bloomberg, about 75% of Elon Musk’s wealth consists of Tesla shares, and the market capitalization of the company is close to USD 500 (about AUD 679.35) billion at the moment. It is bound to increase when the company get inclusion within the S&P index next month.
A year back, Tesla was trading at about USD 67 (About AUD 91.03). Now, the share price has crossed USD 500 (About AUD 679.35). As per Dan Ives, a Wedbush analyst, the share can soar as high as USD 1,000 (About AUD 1,358.70) soon. Ives said, “With the sustained path to profitability and S&P 500 index inclusion achieved, the Tesla bull story is now all about a stepped-up electric vehicle (EV) demand trajectory into 2021.”
He added, “We believe this demand dynamic will disproportionately benefit the clear EV category leader Tesla over the next few years… especially in the key China region, which we believe could represent ~40% of its EV deliveries by 2022, given the current brisk pace of sales with 150K+ deliveries in its first year out of the gates with Giga 3.”
Amazon’s Jeff Bezos still holds the first spot on the list of world’s richest men and is far ahead of Elon Musk as his lead is USD 54 (About AUD 73.37) billion. Below the SpaceX CEO are Bill Gates, LVMH Chairman & CEO Bernard Arnault, Facebook’s Mark Zuckerberg, and Warren Buffett.
2020 has been horrible for most people but not for Elon Musk and the other richest people in the world. The members who belong to the Bloomberg Index have collectively gained USD 1.3 (About AUD 1.77) trillion or 23% since the starting of the year.
Though Elon Musk’s fans would be happy for this achievement, they need to have patience when it comes to seeing the tech entrepreneur topping the list of world’s richest men. Jeff Bezos is far ahead of Elon Musk, and his wealth is also increasing rapidly.
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