Elon Musk overtakes Bill Gates as 2nd richest

Published : 24 Nov 2020, 16:32

Sahos Desk

This year, billionaire entrepreneur Elon Musk added $100.3 billion to his net worth, surpassing Bill Gates to become the second-richest individual in the world. The 49-year-old co-founder of Tesla Inc. has the company of electric cars and renewable energy to thank for the astounding rise in his fortune. Tesla shares, priced more than four times as much as its stake in Space Exploration Technologies Corp., or SpaceX, constitute around three quarters of its net worth.

As the market cap of Tesla reached $500 billion, Elon Musk had a one-word reaction on the microblogging site Twitter that was 'liked' more than 16,000 times.

"Wow," he wrote in response to a tweet about an increase in the share price of Tesla. 

Although Mr Musk may have replied with only a monosyllabic "wow" his supporters flooded social media with memes as news of him overtaking Bill Gates as the second richest individual in the world spread.

Although Mr Musk may have replied with only a monosyllabic "wow" his supporters flooded social media with memes as news of him overtaking Bill Gates as the second richest individual in the world spread. Mr Musk's milestone is just the second time Bill Gates has ranked lower than number two in the index's eight-year history.

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