Its been a very eventful year for Elon Musk as the Tesla Inc. co-founder’s wealth continues to grow. Recently, he has moved past Bill Gates to become the world’s second-richest person.

His wealth grew from $7.2 billion to $127.9 billion this year alone. This is owed in part to another spike in Tesla’s share price. The truly unbelievable fact is that Elon Musk has added $100.3 billion to his net worth in the last 12 months.

Tesla, whose market value is close to reaching $500 billion is the reason for Mr Musk’s massive increase in wealth. The multi faceted businessman has an array of businesses that are both ambitious and profitable. The bulk of his net worth is comprised of Tesla shares.

This is only the second time that Microsoft Corp. co-founder Gates has ranked lower than number two. He held the number one spot for years before being super seeded by Amazon.com Inc. founder Jeff Bezos in 2017.

The year has been a lucrative one for the world’s richest people. Despite the pandemic and widespread layoffs that have disproportionately affected the world’s working class and poor

Source: Bloomberg

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