Updated: Elon Musk has climbed on to become the richest person in the world, surpassing Jeff Bezos who was holding the title since 2017. Musk’s net worth is now valued at $209 billion. This insane surge in Musk’s wealth is the fastest growth ever in history, adding a whopping $150 billion to his net worth in just a year which is more than the wealth of Bill Gates. With during share price, Tesla is now valued at $760 billion. 

2020 has become a crazy year for the world. Ever since the birth of the disastrous pandemic, the world has changed significantly. And here is one of those many changes, well, you can call it a billion-dollar change.

Billionaire entrepreneur Elon Musk popularly known as Tony Stark of our generation overtakes the billionaire philanthropist Bill Gates in the list of the world’s richest people, according to Bloomberg.

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What is the net worth of Elon Musk?

Engineer, business tycoon, industrial designer Elon Musk has a massive empire extending in more than one sector that helped him to climb on to the 2nd spot in the list of the world’s richest people.

He is the founder and CEO of Tesla, one of the world’s most advanced electric vehicle manufacturers, SpaceX, the richest private space company in the world, The Boring Company, Neuralink, OpenAI.

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But the companies that contributed the most to Elon Musk’s spike in his net worth are Tesla and SpaceX. Musk’s net worth at the beginning of 2020 was $7.2 billion, and by the end of November 2020, his net worth has soared to $127.9 billion.

Elon Musk accumulated over $100.3 billion in the 11 months of 2020, which’s more than anybody else on planet earth.

One of the main drives was the spike in Tesla’s share price. Tesla is valued at $500 billion, now the world’s richest automobile manufacturing company.

This is only the 2nd time in his eight-year index that the most idolized philanthropist Bill Gates has slipped down from the top 2 positions. Bill Gates’s net worth is $134 billion, which is only $200 million lesser than Elon Musk’s. Gates would have been much higher with his wealth if he hadn’t involved in philanthropic activities across the world, aiding poor countries with billions of dollars under the Gates Foundation, making him the most loved and respected billionaire in the world.

The founder of Amazon, the world’s biggest online retailer, Jeff Bezos firmly holds the number one position with a net worth of $182 billion.

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The global pandemic has severely affected the working class and poor, crippling the world economies.

But the year 2020 was lucrative for the remaining one percent. According to the Bloomberg index, the top 500 have amassed a total of $1.3 trillion in the year 2020 until November.

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1 Comment

Rakshith · November 26, 2020 at 18:15

Thanks for this wonderful article @thehoardplanet
I was really waiting for this article…

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