Tesla boss Elon Musk surpassed Bill Gates to become the world’s second-richest person as the electric-car maker continued its staggering stock-market surge.
A 6.5 percent jump in Tesla’s share price added about $7.2 billion to Musk’s fortune on Monday, putting his total net worth at $127.9 billion — slightly eclipsing Microsoft co-founder Gates’ $127.7 billion, according to Bloomberg’s Billionaires Index.
Musk, 49, took the No. 2 spot on the ranking of the world’s 500 richest people less than a week after climbing past Facebook chief Mark Zuckerberg into third place. The South African-born entrepreneur is still well behind Amazon CEO Jeff Bezos, whose $182 billion fortune puts him comfortably at the top of the list.
Musk’s wealth has exploded by $100 billion so far this year thanks to the strength of Tesla’s stock, which accounts for the majority of his net worth. The Silicon Valley firm’s market value is approaching $500 billion — making it the most valuable automaker in the world — and its share price has jumped nearly 28 percent since it snagged a spot in the S&P 500 last week.