Elon Musk overtakes Bill Gates to become the second-richest person in the world after his net worth rose by $100BILLION in a year - a five-fold increase to a total $127.9bn - after Tesla shares prices soared 500%
- Elon Musk added more than $100 billion to his net worth this year to $127.9bn
- He has passed Bill Gates as the world’s second-richest person at $127.7bn
- Musk's fortune comes as a result of a massive surge in Tesla stock, which has rocketed more than 500% so far this year
- On Monday Tesla stock rose 6.58% to a record close of $521.85
- It saw Musk's fortune grow by $7.2 billion in a single-day
- Musk began the year in 35th place on the Bloomberg Billionaires Index
Billionaire entrepreneur Elon Musk has overtaken Bill Gates to become the second-richest person in the world just weeks after he passed Mark Zuckerberg to become the third-richest.
It means only Amazon founder Jeff Bezos lies now ahead of him in the rankings. In January he ranked 35th on the Bloomberg Billionaires Index.
Musks' wealth soared after his electric car company Tesla was selected to join the S&P 500.
Tesla will enter the S&P 500, a stock market index that measures the performance of 500 large companies listed on the US stock exchange, on December 21 after it failed to make the cut back in September.
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