Tesla CEO, Elon Musk, Displaces Bill Gates To Become The Second Richest Man In The World

Elon Musk, the CEO of the next generation automobile company known as Tesla, has displaced Bill Gates, the founder of Microsoft, to become the second richest man in the world. Driven by yet another spike in the shares of Tesla, data from Bloomberg billionaire index shows that Musk is now worth $128 billion, having added a staggering $100.3 billion to his wealth in 2020 alone, the highest feat ever attained by anyone in the Bloomberg billionaire index of the 500 richest people in the world.

With this new shift in fortune, Elon Musk is only behind Jeff Bezos, the founder of Amazon, in the list of the richest people in the world. Musk, who is also involved in the manufacturing of rockets for space exploration, has had most of his wealth coming from the tremendous success of Tesla, his automobile company that specialises in the production of electric vehicles.

Musk reportedly owns one-fifth of the shares of Tesla, which is up about 500% in 2020 alone and is not showing sign of going down anytime soon. Tesla was founded in 2003 by a group of engineer who wanted to prove to the world that electric cars can be faster, safer, and even cheaper than gasoline-powered vehicles. Although Tesla is yet to overtake prominent automobile companies such as Toyota, Volkswagen, General Motors, etc in the volume of production, it has shown strong potential to be more profitable and perhaps successful in the future.

In April 2019, Elon Musk tweeted that he was a fan of Dogecoin, creating some excitement within the Dogecoin community. Not too long ago too, in July 2020, Elon Musk tweeted a cryptic message in support of Doge Coin and the market soon reacted positively as the coin gained 14%. As for Bitcoin, Musk views has so far remained neutral.

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