Tesla CEO Elon Musk, became the second richest man in the world

Elon Musk, the second richest man in the world

The Tesla CEO Elon Musk, 49, has become the second richest man in the world. His net worth is estimated at $ 127.9 billion.

The Tesla CEO has added close to $100 billion to his wealth in 2020 and is now the second richest person in the world. According to Bloomberg Billionaires’ Index, Musk’s estimated net worth is now $128 billion, just a shade more than Microsoft co-founder Bill Gates.

At the start of the year Musk was ranked 35th amongst the world’s richest. In 2020 alone, his net worth increased to $ 100.3 billion. However, Tesla’s market value has gone through the roof this year, which in turn has resulted in Musk’s net worth going up.

While Musk’s worth has certainly gone up, this is the second time, as per Bloomberg, that Gates has dropped below number two. Bill Gates was the richest man for four years running till 2017 when Amazon CEO Jeff Bezos overtook him. Bezos continues to be the richest man in the world with an estimated net worth of $182 billion.

As Musk, it is rather well known that he doesn’t take a single penny in salary. Musk has an incentive-based compensation structure where he gets paid when Tesla or his other company SpaceX hit certain financial milestones.