Elon Musk has stepped up the ladder to emerge the fourth richest man in the world today, Tuesday, August 18, 2020.
The Tesla CEO whose wealth has grown by
$57.2 billion this year alone, now boasts of a total of balance of $84.8 billion on the Bloomberg Billionaires Index, a daily ranking of the world’s richest people.
Elon Musk’s new position on the billionaire index came about after after Tesla Inc shares soared 11 per cent on Monday, August 17, boosting his networth by a whooping $7.8 billion.
The South African entrepreneur now ranks higher than French luxury tycoon, Bernard Arnault, the wealthiest non-American on the Bloomberg Billionaires Index and shows no sign of slowing down.
Musk’s $84.8 billion fortune puts him within $15 billion of Mark Zuckerberg, number three on the ranking of the world’s 500 richest people.
This is a big win for the tech entrepreneur who was sued by the US Securities and Exchange Commission only two years ago and had to resign as chairman of the electric car maker over rogue tweets.
Musk’s $57.2 billion growth in his fortune for this year is the second-biggest increase on the index, just behind Amazon.com Inc. founder, Jeff Bezos who is the biggest gainer, with up to $73 billion.
The Corona virus pandemic has driven tech shares up, increasing the fortunes of such companies as more people have moved online.
Elon Musk ranks behind Facebook Inc’s Mark Zuckerberg, who became a centibillionaire this month, joining Bezos and Bill Gates, the second-wealthiest person on Earth.