Los Angeles, United States – The business magnate, industrial designer and engineer, Elon Musk beats Microsoft founder, Bill Gates and takes over the title of the second richest man on earth.
Bloomberg Billionaires Index revealed on November 24 that the tech entrepreneur Elon Musk has surpassed Bill Gates to become the second most richest man on earth, just behind the founder of Amazon, Jeff Bezos.
The rise in status comes after the electric car company of Musk, Tesla shares were added to the S&P 500, one of the main share indexes in the US. With this, a surge in the number of people buying the shares was seen, taking the company’s market value to over $500 Billion.
As a result, Musk managed to land in number two of the world’s richest man list from the 35th position as he is the CEO of Tesla, owning about 21% of the company. His net worth increased by a whopping $7.7 Billion in just a couple of days and has now reached $136 Billion.
After facing some production challenges, Tesla has made great output of electric cars, after having its Model 3 as the bestselling luxury car in America. However, Musk hinted during a speech in Germany that Tesla may expand to Europe by entering the mass-market segment with a small car. It appears that Musk is planning to gain further profit from Tesla and perhaps be the richest man on earth.