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Despite COVID-19, Elon Musk becomes world’s second richest man, surpasses Bill Gates

Elon Musk

In a latest development, Elon Musk, CEO of Tesla, has surpassed Microsoft founder Bill Gates to become the world’s second-richest man. The billionaire tech entrepreneur added around £100.3 billion to his net worth this year. 

As per Bloomberg Billionaires Index, Elon Musk’s estimated net worth is now around  £128 billion, just a bit above Bill Gates. Amazon’s Jeff Bezos sits comfortably on the top with a net worth of around £182 billion. 

Back in January 2020, he ranked 35th, but the huge rise in Tesla’s share price helped him to gain ground and surpass other billionaires in the world. Furthermore, it is estimated that Tesla’s market value will soon touch $500 billion.

According to Bloomberg, this is the second time Gates has dropped below number two. The Microsoft founder was the richest person for four consecutive years till 2017 when Jeff Bezos overtook him.

It’s worth mentioning that Elon Musk doesn’t take a salary from the company instead he has an incentive-based compensation structure based on the company’s performance.