Elon Musk Ranks 2nd Richest Man

SpaceX and Tesla CEO Elon Musk was declared, the world’s 2nd-richest person as his net worth rose more than $7.2 billion, after he surpassed Microsoft Chairman Bill Gates, according to the Bloomberg list of billionaires on Tuesday.

About three-quarters of his net worth is comprised of Tesla shares, which are valued more than four times as much as his stake in Space Exploration Technologies Corp., or SpaceX. Meanwhile, Shares in the electric car maker surged after the Trump administration said Monday, it had started the transition process to President-elect Joe Biden a clean energy advocate.

Elon Musk Ranks 2nd Richest

Earlier this year, the 49-year-old tech pioneer announced that he was going to sell almost all of his physical possessions and own no house, saying he no longer wanted to be attacked for being a billionaire.

Elon Musk

Although $54 billion still separates Musk from the No. 1 spot — held by Amazon founder and CEO Jeff Bezos, whose fortune is listed at $182 billion, Tesla’s debut on the S&P 500 index next month could narrow that margin, according to CNBC. Tesla hit a $500 billion market capitalization for the first time on Tuesday, and Musk's net worth has jumped nearly $20 billion in just the last week.

Moreover, his Space X is gaining more international recognition especially after launching the first full-crewed mission to orbit the Earth to become the first private space company to launch space flights.  In addition, Space X news went viral after its iconic launch of the Starlink satellite-train that was seen from Earth.