ALL NEWS

Elon Musk is now tied with Bill Gates as world’s second richest man

Nov 24, 2020, 6:22 AM

...

    (CNN) — Elon Musk’s rocket-like climb up the ranking of the world’s richest men continues.

The Tesla CEO’s net worth soared on Monday as shares of his electric automaker hit a record high, boosting his net worth to $127.9 billion, according to the Bloomberg Billionaires Index, which tracks the world’s 500 wealthiest people.

For a couple of hours that put him slightly above Bill Gates, the co-founder of Microsoft and world’s second-richest person, who was estimated to be worth $127.7 billion. The latest readout from the Bloomberg index has the men tied on $128 billion each.

Musk’s fortunes are directly linked to those of Tesla. His biggest asset is the company’s stock, of which he last owned about 20%, according to Bloomberg.

This year has been very good for the entrepreneur. So far in 2020, Tesla’s stock has shot up almost 524%, helping Musk add more than an estimated $100 billion to his wealth. That’s more than anyone on Bloomberg’s global rich list, the outlet reported.

Gates would likely be an even bigger billionaire if it weren’t for his philanthropy. Years ago, he and his wife, Melinda Gates, famously pledged to donate most of their wealth to charity. Amazon CEO Jeff Bezos is currently the world’s richest person, with an estimated net worth of $182 billion.

Outside of Tesla, Musk oversees SpaceX, the space exploration firm that recently kicked off a landmark mission with NASA. He’s also a father of six and chairman of the Musk Foundation, an organization that supports research into renewable energy, pediatrics and humans in space.

Some believe there’s still room to run with his company’s stock. Last week, Tesla was accepted into the S&P 500, notching another milestone. It will join the index next month.

And Tesla stock jumped 6.6% on Monday alone, closing at an all-time high of $521.9 per share.

Musk himself appeared to be just as surprised as anyone else. When a Twitter user pointed out the stock move on Monday, he responded with just one word: “Wow.”

The-CNN-Wire
™ & © 2020 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

We want to hear from you.

Have a story idea or tip? Send it to the KSL NewsRadio team here.

Today’s Top Stories

All News

The OLRGC released an analysis of the expected topics to be discussed during a special session of t...

Simone Seikaly

Extending state flooding emergency, firearm restrictions, among topics for Utah special session

The OLRGC released an analysis of the expected topics to be discussed during a special session of the legislature.

11 months ago

A video recorded by Facebook user Larry Jacquez shows the police response following the shooting in...

Jamiel Lynch, CNN     

At least 3 people killed and 2 officers wounded in a shooting in Farmington, New Mexico, police say

Multiple people were shot and at least three killed in a shooting in Farmington, New Mexico, police said in a Facebook post.

11 months ago

A new release from Intermountain Healthcare shows that younger adults are becoming more susceptible...

Waverly Golden

Younger adults are becoming more susceptible to strokes

A new release from Intermountain Healthcare shows that younger adults are becoming more susceptible to stroke.

11 months ago

If you plan to camp over Memorial Day Weekend, you may want to begin the planning process now....

Allessandra Harris

Camping over Memorial Day Weekend? Plan ahead

If you plan to camp over Memorial Day Weekend, you may want to begin the planning process now.

11 months ago

slcpd on the scene of the deaths...

Josh Ellis

Police: Teen killed by father in murder-suicide in SLC office building

Police responded to the office complex near 3000 S. Highland Drive on Saturday after emergency responders received a call from a community member who reported finding a body.

11 months ago

Melissa Coleman crouches next to her husband, , Brad Coleman, of North Ogden, who sits in a wheelch...

Jenny Carpenter, KSL.com

Young stroke victim survives with quick, lifesaving treatment in northern Utah

After a 36-year-old man had a stroke, he and his wife say to be aware of the signs of stroke and that young people are also at risk.

11 months ago

Sponsored Articles

close up of rose marvel saliva blooms in purple...

Shannon Cavalero

Drought Tolerant Perennials for Utah

The best drought tolerant plants for Utah can handle high elevations, alkaline soils, excessive exposure to wind, and use of secondary water.

Group of cheerful team members high fiving each other...

Visit Bear Lake

How To Plan a Business Retreat in Bear Lake This Spring

Are you wondering how to plan a business retreat this spring? Read our sample itinerary to plan a team getaway to Bear Lake.

Cheerful young woman writing an assignment while sitting at desk between two classmates during clas...

BYU EMBA at the Marriott School of Business

Hear it Firsthand: 6 Students Share Their Executive MBA Experience at BYU’s Marriott School of Business

The Executive MBA program at BYU offers great opportunities. Hear experiences straight from students enrolled in the program.

Skier being towed by a rider on a horse. Skijoring....

Bear Lake Convention and Visitors Bureau

Looking for a New Winter Activity? Try Skijoring in Bear Lake

Skijoring is when someone on skis is pulled by a horse, dog, animal, or motor vehicle. The driver leads the skiers through an obstacle course over jumps, hoops, and gates.

Banner with Cervical Cancer Awareness Realistic Ribbon...

Intermountain Health

Five Common Causes of Cervical Cancer – and What You Can Do to Lower Your Risk

January is National Cervical Cancer Awareness month and cancer experts at Intermountain Health are working to educate women about cervical cancer.

Kid holding a cisco fish at winterfest...

Bear Lake Convention and Visitors Bureau

Get Ready for Fun at the 2023 Bear Lake Monster Winterfest

The Bear Lake Monster Winterfest is an annual weekend event jam-packed full of fun activities the whole family can enjoy.

Elon Musk is now tied with Bill Gates as world’s second richest man