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Elon Musk becomes second world richest person

Tesla CEO Elon Musk visits the construction site of a future Tesla plant near Berlin on Sept. 3.

Tesla’s skyrocketing share prices have made Elon Musk the world’s second-richest person, with a net worth of nearly $128 billion, according to the Bloomberg Billionaires Index.

Musk edged past Bill Gates on Tuesday. Only Amazon founder Jeff Bezos is worth more.

Bloomberg reported that the Tesla CEO has added more than $100 billion to his net worth in 2020, propelling him from the 35th spot on the index up to No. 2.

Most of Musk’s wealth is tied up in Tesla stock. Instead of drawing a salary, he has been compensated in stock based on the company’s impressive performance.

Tesla stock has repeatedly defied skeptics and pushed to stratospheric heights, which recently received a bump from the news that the S&P 500 would be adding the company to its influential index.

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