Musk Eclipses Bill Gates Becoming the Second Richest Man in the World
- by Emilio Sims
- in Money
- — Nov 25, 2020
Details about the calculations are provided in the net worth analysis on each billionaire's profile page.
Tesla's market value is approaching $500 billion.
He predicted a year ago that self-driving Teslas, which are still being refined, would boost the company's market cap to $500 billion.
Elon Musk's year of dizzying ascents hit a new apex Monday as the Tesla Inc.co-founder passed Bill Gates to become the world's second-richest person.
According to a report by Bloomberg, Elon Musk 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.
Tesla itself is now close to $500 billion in value. At the time of Musk's prediction, its market cap was under $45 billion.
Musk edged past Bill Gates on Tuesday.
After some production challenges, Tesla has massively scaled up its output of electric cars, which have proved popular - the Model 3 is the best-selling luxury auto in America. Musk has further gone on to call Gates a "knucklehead" for criticizing his efforts on conducting coronavirus antibody studies.
On Twitter, Musk has taken jibes at Gates for having "no clue" about electric trucks, while Gates has expressed concern at Musk's acceptance of COVID-19 conspiracy theories.
That followed Standard & Poor's announcement last week that the electric carmaker will join the S&P 500 on December 21, a move that had been anticipated amid better-than-expected earnings and sales, which in turn has driven Tesla's valuation to new heights. Tesla shares jumped almost 14% in after-hours trading after the announcement.
About three-quarters of his net worth consists of only Tesla shares, valued more than four times as much as his stake in Space Exploration Technologies Corp., better known as SpaceX, the Bloomberg report stated. The small-cap manager shares how he invests for big wins and where he is finding opportunities amid a 39% return year-to-date.
