New Delhi (Anish Yande): Elon Musk, the founder and CEO of companies such as SpaceX and Tesla, has ascended to the position of the second wealthiest person in the world. Bill Gates, the founder of Microsoft, was the second richest person in the world before Musk claimed the position.
How Elon Musk Surpassed Bill Gates:
At the start of the year, Elon Musk was ranked the 35th richest person in the world, according to the Bloomberg Billionaires Index. Since then, Elon Musk has had a string of successes. SpaceX expanded their operations with more than two successful missions with NASA. SpaceX safely transported astronauts from Earth to the International Space Station.
The private aerospace company has plans for more missions with space agencies such as the European Space Agency. Future missions could involve the collection of material from Mars for the goal of humans inhabiting Mars one day.
Tesla, Musk's other venture, has a market value fast approaching $500 billion. Tesla expanded operations to China this year. Tesla Model 3 has been manufactured in Tesla's Chinese markets. Model 3 saw high demand in China, with it being sold out within days of announcement.
Three-quarters of Musk's net worth is made of Tesla shares. Tesla's share price has been reaching new heights this year. The increase in share prices has led to the consistent growth in Elon Musk's net worth.
A Wildly Succesful Year for Elon Musk:
2020 has been an immensely profitable year for Elon Musk, with an addition of $100.3 billion in his net-worth this year alone. His net worth rose by $7.2 billion, with a total reaching $127.9 billion. Jeff Bezos, the founder of e-commerce giant Amazon, still retains his position as the richest man in the world.
Bill Gates has a net worth of $127.7 billion. Elon Musk recently surpassed the Microsoft founder. Bill Gates opened up his charitable organization, the Bill and Melinda Gates Foundation. Gates' philanthropic efforts put a dent in his wealth. He has donated more than $27 billion since 2006.
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