Elon Musk Overtakes Bill Gates As World’s Second Richest Person
It is no surprise that Elon Musk, the co-founder and CEO of SpaceX and Tesla Motors, has become the second richest person in the world. However, he is almost $10 billion richer than Bill Gates who first took the title and has a net worth of $116.5 billion.
Elon Musk is now worth $127.9 billion
After the announcement, Musk shot up in value by more than five percent overnight. He has now overtaken Bill Gates as the second richest person.
What makes Musk so wealthy?
Bill Gates is no longer the richest person in the world. Elon Musk surpassed him to take over the second spot. One of the reasons why Musk became so wealthy is because he created Tesla, a company that produces luxury electric cars. Tesla cars are equipped with many safety features, including front-mounted radar that enables the car to detect objects in front of it.
Why did the stock market crash recently?
In recent weeks, the stock market has been experiencing a huge crash. Many people are looking to find the underlying cause for these stocks going down. Some analysts point to outbursts from Wall Street and a lack of regulation as the main reasons for this crash. One other very possible cause is that Bill Gates recently dropped in total wealth to second place while Elon Musk rose to third place.
What does this mean for Tesla, SpaceX, and SolarCity?
Bill Gates is the richest person in the world, but he has been surpassed by Elon Musk. This event will have a huge impact on Tesla, SpaceX, and SolarCity because it shows that the company is quickly establishing itself as a leader in technology.
Who is Bill Gates?
Bill Gates is the founder of Microsoft and has been ranked the world’s richest person numerous times since 1995. For a while, he was even ahead of Elon Musk. However, in May 2018, Musk took the lead from Gates and became the world’s second-richest person according to Forbes’ list of wealthy people.
The whole world is getting richer, but the top 1% are still pulling away from the rest. Billionaires like Bill Gates and Elon Musk are now worth more than anyone else on Earth. It’s not much consolation to the majority of us, but it does show how far technology can take us.
Tesla’s current stock price is seen below.