COVID-19 pandemic brings blessings to Tesla founder and CEO Elon Musk. Now he is the second richest person in the world. Elon Musk is passing Microsoft founder Bill Gates and under Amazon boss Jeff Bezos.
Elon Musk’s wealth is boosted by Tesla stock
The increase in Elon Musk’s wealth was driven by the increase in Tesla’s share price. At the close of the United States (US) stock exchange, Elon Musk’s assets increased by $7.2 billion to $127.9 billion. It is according to Fortune’s calculations, as quoted on Tuesday (11/24/2020).
Since the start of the year Elon Musk’s fortune has increased by US $ 100.3 billion, according to the Bloomberg Billionaires Index. His ranking increase is also very fast because at the beginning of this year Elon Musk was still in the 35th rank of the world’s richest people list.
His wealth is also helped by SpaceX
About three-quarters of Elon Musk’s wealth comes from Tesla, which is now valued at US $ 500 billion. Elon Musk controls 20% of the company’s shares. The rest comes from space rocket maker startup Space Exploration Technologies or SpaceX.
Bill Gates’ fortune could have been above US $ 127.7 billion if only he did not donate part of his fortune to charity. It is estimated that Bill Gates has donated US $ 27 billion of his wealth to charity activities since 2016.
In general, the pandemic is a blessing for the 500 richest people in the world because it has made their wealth cumulatively increase 23% since the beginning of the year or as much as US $ 1.3 trillion. This increase in wealth occurs when many middle and lower classes face layoffs (PHK).
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