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Elon Musk Overtakes Bill Gates To Become 2nd Richest Person In The World

Space X and Tesla Boss Elon Musk has passed Microsoft co-founder Bill Gates to become the second-richest person in the world.

Elon Musk added $100.3 billion to his net worth this year, surpassing Bill Gates to become the 2nd richest person in the world.

This new feat is coming barely a week after he overtook Facebook’s Mark Zuckerberg to become the third-richest, following a surge in Tesla’s share price.

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The electric car company’s value has risen following the announcement that it would join the S&P 500 index of leading US companies, driving its market value close to $500bn.

Musk, 49, is now worth more than $128 billion (£95bn) as he owns 20% of all of the company’s shares, which has risen by more than 675% since 25 November last year, when they were valued at $67.27 (£50.33) each.

Tesla’s share price is currently valued at $521.49 (£390.20) a share, and if the growth continues, Musk could net a bonus deal worth a record $55.8bn. To trigger the maximum payout he has to build Tesla into a $650bn company by 2028, The Guardian reports.

Tesla is the most valuable car company in the world by share price, with a market value of just over $494bn (£370bn).

Just last week, Musk overtook Facebook founder and chief executive Mark Zuckerberg in the third position.

Amazon founder and chief executive Jeff Bezos remains at the top of the Bloomberg rich list, with an estimated net worth of $182bn (£136bn).

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