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Elon Musk Now World’s Second-Richest Man

Elon Musk overtakes Bill Gates to become world's second richest person  behind Jeff Bezos - The Verge

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.

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