2020 might have been a bad year for many, but Elon Musk appears to be on the way to progress, with the CEO of Tesla adding nearly $ 100 billion to his fortune in 2020 and he is now the second-richest person in the world, according to the Bloomberg Billionaires Index. Musk’s net worth is now $ 128 billion, higher than Bill Gates, the founder of Microsoft.
According to the Indian TOI website, at the beginning of the year, Musk was ranked 35th among the richest people in the world. However, Teslas market value exceeded the ceiling this year, which in turn led to an increase in Musk’s net worth, while the value of Musk rose. Certainly, this is the second time, according to Bloomberg, that the “Gates” have fallen below second place.
Gates was the richest man for four consecutive years until 2017 when he was overtaken by Jeff Bezos, CEO of Amazon. Bezos remains the richest man in the world with an estimated net worth of $ 182 billion, and like Musk, he is known to not take a single penny on salary, and owns “Mask” is an incentive-based compensation structure whereby he gets paid when Tesla or his other company, SpaceX, achieves certain financial milestones.
A report issued by Fortune had earlier calculated the goals that Musk needed to meet in order to achieve massive gains, and according to Fortune, Musk has a 12-level compensation scale and first needs to increase Teslas cap to $ 100 billion – which is what Achieved in 2020.
In the past eight years, Tesla and Musk seem to have come a long way, and in 2012, Teslas market value was “only” about $ 4 billion, and Teslas shares rose dramatically in 2020 and in the first two weeks of the year. 2020, up nearly 25%, and estimated Teslas market cap will soon reach $ 500 billion.