Musk has added $100.three billion to his web value this 12 months, essentially the most of anybody on the Bloomberg Billionaires Index, a rating of the world's 500 richest individuals.
With a market capitalisation approaching US$500 billion - not to mention Tesla's forthcoming inclusion within the S&P 500 starting from next month - for the time being, we can only expect Musk's wealth to snowball with every passing day. Roughly three-quarters of Musk's net worth is comprised of Tesla shares.
Tesla and SpaceX head, Elon Musk, 49, is now the second richest person in the world, surpassing Microsoft mogul Bill Gates - a mere week after Musk surpassed Facebook chief Mark Zuckerberg to take the third spot on November 18. In January he ranked 35th on the Bloomberg Billionaires Index.
The year has been a lucrative one for the world's richest people.
The report said that Gates' net worth would be higher but he has donated vast sums of money to charities over the year, including $27 billion to his Gates Foundation.
2020 has been good on Elon Musk.
Another Chinese COVID vaccine enters late-stage human trials
Global trials are expected to begin in Uzbekistan late this month, followed by trials in Indonesia, Pakistan and Ecuador. The Sinopharm vaccine requires two doses per individual for efficacy.
However, the percentage rise in Tesla's shares changed everything.
Musk edged past Bill Gates on Tuesday.
As it stands, Tesla is already the most valuable auto maker in the world, despite making a fraction of the number of vehicles that are churned out by more established manufacturers such as General Motors, Volkswagen, Ford and Toyota.
Amazon founder Jeff Bezos has been the world's richest man since 2017, when he bumped Bill Gates from the top spot.
Tesla will enter the S&P 500, a stock market index that measures the performance of 500 large companies listed on the U.S. stock exchange, on December 21 after it failed to make the cut back in September.
That Musk had surpassed Gates came as news to Twitterati who expressed their astonishment with hilarious memes.