Now that’s rich! Elon Musk is tied with Bill Gates as second richest man

Elon Musk has seen his wealth skyrocket even as the fortunes of many took a hit due to the coronavirus pandemic.

Elon Musk (Photo: Getty Images)

Musk’s net worth jumped to US$127.9 billion yesterday, according to the Bloomberg Billionaires Index, after Tesla’s stock increased 6.6 per cent to close at an all-time high of US$521.9 per share. The move made Musk the second wealthiest man in the world, surpassing Microsoft co-founder Bill Gates.

However, the index’s latest update puts the wealth of both men at US$128 billion, a tie for second behind Amazon co-founder Jeff Bezos who’s worth US$182 billion.

Shares of electric automaker Tesla have soared this year, increasing more than 500 per cent. With Musk having a 20 per cent stake in the company, his own fortune jumped more than US$100 billion, the most of anyone tracked by the index.