The 49-year-old entrepreneur’s internet price soared $7.2 billion to $127.9 billion, pushed by one more surge in Tesla’s share value. Musk has added $100.3 billion to his internet price this yr, essentially the most of anybody on the Bloomberg Billionaires Index, a rating of the world’s 500 richest individuals. In January he ranked thirty fifth.
His advance up the wealth ranks has been pushed largely by Tesla, whose market value is approaching $500 billion. About three-quarters of his internet price is comprised of Tesla shares, that are valued greater than 4 occasions as a lot as his stake in House Exploration Applied sciences, or SpaceX.
Musk’s milestone marks solely the second time within the index’s eight-year historical past that Microsoft co-founder Gates has ranked decrease than quantity two. He held the highest spot for years earlier than being bumped by Amazon.com. founder Jeff Bezos in 2017. Gates’s internet price of $127.7 billion can be a lot increased had he not donated so prodigiously to charity through the years. He has given greater than $27 billion to his namesake basis since 2006.
With Monday’s transfer, Musk unseats an occasional verbal sparring accomplice in Gates, who the Tesla billionaire has ridiculed on Twitter for, amongst different issues, having “no clue” about electrical vehicles. The 2 have additionally traded barbs over Covid-19. Gates, whose charitable basis is among the preeminent our bodies backing vaccine analysis, has expressed concern over Musk’s said suspicion of pandemic information and embrace of sure conspiracy theories.
The yr has been a profitable one for the world’s richest individuals. Regardless of the pandemic and widespread layoffs which have disproportionately affected the world’s working class and poor, the members of the Bloomberg index have collectively gained 23% — or $1.3 trillion — for the reason that yr started.
Extra must-read tech coverage from Fortune:
- Former Yahoo CEO Marissa Mayer launches her first startup
- The cashless economic system: How fintech is approaching the future of finance
- Bitcoin bulls and bears: Tech execs focus on what’s in store for cryptocurrency
- There’s extra 5G accessible in massive cities. However which carrier is fastest?
- How to achieve the subscription business