Elon Musk Makes $100B in 2020, Becomes World’s Second-Richest Man

Dan Neil and Tesla Motors CEO Elon Musk attend Tribeca Talks After The Movie: 'Revenge of the Electric Car' during the 2011 Tribeca Film Festival at the SVA Theater on April 23, 2011 in New York City. (Photo by Dario Cantatore/Getty Images)
Dario Cantatore/Getty

Tesla and SpaceX CEO Elon Musk has overtaken Microsoft co-founder Bill Gates to become the world’s second-richest person, behind Amazon CEO Jeff Bezos. Musk’s fortune increased an astounding $100 billion this year, from $28 billion to $128 billion.

The Verge reports that Tesla and SpaceX CEO Elon Musk has passed Microsoft co-founder Bill Gates to become the world’s second-richest person. The Bloomberg Billionaires Index now states that Amazon CEO Jeff Bezos is the richest man in the world followed by Musk and Gates.

Musk’s net worth now sits at around $128 billion after it increased by $100 billion this year. Bezos’ net worth is currently reported at around $182 billion leaving a sizable gap between the two. Musk ranked as the 35th richest person in the world on the Billionaire Index in January.

Musk’s rapid net worth increase is mainly driven by Tesla’s share price. The electric vehicle manufacturer currently has a market cap of almost $500 billion after starting 2020 at under $100 billion. Teslas has the highest market cap of any vehicle manufacturer in the world, according to The Guardian, despite producing a fraction of the cars of more established automakers.

This year Tesla plans to produce 500,000 vehicles compared to around 10 million cars from a company such as Toyota. Three-quarters of Musk’s net worth reportedly consists of Tesla shares, Bloomberg states.

Breitbart News recently reported that a Tesla vehicle was involved in a crash that fired flaming hot batteries through the windows of residential homes in Oregon. Read more at Breitbart News here.

Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan or contact via secure email at the address lucasnolan@protonmail.com

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