Elon Musk Is Now The 2nd Richest Person On Earth

Tesla CEO Elon Musk has surpassed billionaire Bill Gates as the second wealthiest person on the planet behind Amazon’s Jeff Bezos. Bloomberg reports Musk is now worth $127.9 billion barely out-doing Bill Gates’ $127.7 billion. We say barely fully aware that the discrepancy is a whopping $0.2 billion…or $200 million dollars.

2020 hasn’t been a disaster for everyone. In less than a year, Musk has climbed 33 spots on the list of the world’s most wealthy. He started 2020 in 35th place.

The biggest factor in Musk’s success is the automaker’s latest bump in share price. And while you might think Musk holds his net worth in cash and gold or eccentric cryptocurrency, actually three-quarters of it consists of Tesla stock.

It’s reported that Musk owns around 20 percent of Tesla, which is currently selling at $555 per share. This insane spike in stock increased Musk’s worth by $100.3 billion in 2020 alone.