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Elson Musk becomes the second richest person in the world, beating Bill Gates to the position

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Tesla Inc. Co-founder Elson Musk is the new second richest person in the world after beating Bill gates.

The 49 year old’s net worth soared from $7.2 billion to $127.9 billion, driven by yet another surge in Tesla’s share price.

Musk has added $100.3 billion to his net worth this year, the most of anyone on the Bloomberg Billionaires Index, a ranking of the world’s 500 richest people.

He ranked 35th in January.

Elson Musk.

About three quarters of his net worth comprises of Tesla shares.

Bill Gates who is currently third held the top spot for years before being bumped by Amazon.com Inc. founder Jeff Bezos in 2017.

Gates net worth stands at $127.7 billion, this is after he donated more than $27 billion to his foundation.

Bill Gates.

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