Elon Musk Now World's Second Wealthiest Person
Mohammad Ali (@ChaudhryMAli88) Published November 24, 2020 | 09:37 PM
Elon Musk, the charismatic chief of electric automaker Tesla, has overtaken Bill Gates to become the world's second richest person, according to the Bloomberg list of billionaires
New York, (APP - UrduPoint / Pakistan Point News - 24th Nov, 2020 ) :Elon Musk, the charismatic chief of electric automaker Tesla, has overtaken Bill Gates to become the world's second richest person, according to the Bloomberg list of billionaires.
The South African-born Musk, 49, added $7.2 billion in wealth on Monday alone following Tesla's latest surge. He now has an estimated $128 billion.
The outspoken Musk, who is also cofounder of SpaceX, had already overtaken numerous luminaries in recent weeks, including Facebook Chief Executive Mark Zuckerberg and Bernard Arnault, the head of French luxury giant LVMH.
Now the only person he stands behind is Amazon founder and CEO Jeff Bezos, whose wealth is estimated at $182 billion.
The upheaval of the coronavirus pandemic has allowed the ultra-rich to amass even more wealth as technology companies have gobbled up more market share of the economy.
In 2020, Tesla shares have surged more than 500 percent and the company is now valued at more than $500 billion.
Musk, who owns about 18 percent of the shares, has made some $100 billion during this stretch.
Tesla shares have gained further since the presidential election of Joe Biden, who favors more aggressive policies to address climate change. Tesla was also boosted by an announcement that it is being added to the prestigious S&P 500 index.
Related Topics
Recent Stories
Today Gold Rate in Pakistan 09 May 2024
IHC adjourns PTI founder, Qureshi's appeal till Thursday
CDWP recommends 3 projects to ECNEC for approval
Tarar assures APNS to resolve issues of newspaper industry
Pakistan urged to capitalize on economic stability, for Tobacco Tax Reforms
N. Macedonia polls set to upend ties with EU neighbours
Croatia's ruling party reaches coalition deal with right wing
Bayern coach Tuchel makes three changes for Madrid showdown
Olympic flame arrives on French soil for Paris Games
Punjab Finance Minister announces expansion of Social Protection Authority's man ..
Kenya inks deal to end doctors' strike
Brazil flooding death toll reaches 100
More Stories From World
-
Brazil flooding death toll surpasses 100
13 minutes ago -
S. Korea vows strong Ukraine ties, smooth Russia relations
43 minutes ago -
US forges new 'battery belt' in hopes of electric future
53 minutes ago -
Tokyo shares open higher
1 hour ago -
Nuggets' Jokic scoops third NBA Most Valuable Player award
1 hour ago -
Brazil flooding death toll surpasses 100
1 hour ago
-
Football: South African Premiership results
8 hours ago -
Football: South African Premiership table
8 hours ago -
Fiorentina reach Europa Conference League final
8 hours ago -
Fiorentina reach Europa Conference League final
8 hours ago -
Football: Europa Conference League results
9 hours ago -
Tennis: Rome Open results - 1st update
9 hours ago