The combined earnings of the 10 richest people in the world during the coronavirus pandemic reached $ 540 billion, according to a recent study by the organization Oxfam.
This quantity it would be enough to prevent the world’s inhabitants from falling into poverty because of the virus and to pay for a vaccine for all, assured the NGO.
Their report found that the total wealth of billionaires was equivalent to the total spending of all G20 governments to recover from the virus.
Also, the charity is urging governments to consider taxing the super rich.
The report, “The virus of inequality” (Inequality Virus, in English), was published this Monday as world leaders meet virtually for the “Davos Dialogue” meeting of the World Economic Forum.
Unprecedented government support for their economies resulted in a booming stock market, boosting the wealth of billionaires, as the real economy faces the deepest recession in a century, Oxfam adds.
All over the world, billionaires’ wealth increased by $ 3.9 trillion between March 18 and December 31, 2020, and now stands at $ 11.95 trillion, which is equal to what G20 governments have spent in response to the pandemic, according to the report.
The 10 richest people, whose fortunes have increased by $ 540 billion since March 2020, include Amazon founder Jeff Bezos, Tesla creator Elon Musk, and Facebook CEO Mark Zuckerberg.
The report contends that Bezos had made so much money in September 2020 that he could have given Amazon’s 876,000 employees a $ 105,000 bonus and still be as wealthy as before the pandemic.
By comparison, for the world’s poorest, recovery could take more than a decade.
Oxfam estimates that there are up to 500 million more poor people as a result of the pandemic, reversing the decline in global poverty observed in the last two decades.
“We think this is … an opportunity to do something radical about a fairer reconstruction, to think about wealth taxes, corporate taxes and think about increasing the basic level (of social protection) for each citizen,” he told the BBC Danny Sriskandarajah, Executive Director of Oxfam.
Since the pandemic began, there have been a relatively high number of mega charities by celebrities, sports stars and business leaders who responded to the COVID-19 emergency and other causes.
Last month, MacKenzie Scott, Jeff Bezos’ ex-wife, revealed that she had donated more than $ 4 billion to food banks and emergency relief funds in four months.
In a blog post, Scott said he wanted to help Americans who were battling the pandemic.
In June of last year, it was also reported that Bezos himself had donated $ 125 million to assist with efforts during the coronavirus pandemic.
For his part, Twitter co-founder Jack Dorsey announced in April that he was transferring $ 1 billion of his assets to a fund to support relief efforts in the pandemic and other causes. This represents about a quarter of his net worth of $ 3.9 billion.
Other personalities like Bill Gates and his wife Melinda donated $ 305 million for vaccines, treatments and diagnostic development through their charitable foundation, while Harry Potter author JK Rowling gave about $ 1.3 million to help people. homeless already affected by domestic abuse during the pandemic.
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Jeff Bezos, director of Amazon, ended the week once again becoming the richest person in the world, with an estimated net bluff of $ 181.5 billion, although his fortune fell on Friday in $ 1.4 billion.
Tesla’s Elon Musk and Bezos have been shifting their places on Forbes’ billionaires list due to changes in the markets.
After the president-elect, Joe biden, released the details of a new stimulus project for coronavirus from $ 1.9 trillion, investors reacted to the possibility of a second impeachment trial of the president Donald trump in the Senate, which could delay the approval of the new stimulus bill for weeks, along with the possibility of a tax increase in the incoming administration.
On Friday the shares of Amazon fell less than 1 percent while Tesla’s closed 2 percent less, reason enough to place Bezos in front of Musk.
Related: Elon Musk recommended using Signal instead of WhatsApp, but a mix-up led to an error.
In general terms, technology stocks are down, due to the presentation of the Biden stimulus bill. Financial indicators such as the Dow Jones index closed the week down 0.9% while the Nasdaq and the S&P 500 index ended down 1.5 percent respectively, as reported by the site. Yahoo! Finance.
Elon Musk just became the richest person in the world, surpassing Amazon founder Jeff Bezos.
The Tesla and SpaceX founder’s net worth exceeded $ 185,000 million, according to the Billionaires Index of Bloomberg, after the electric car company’s stock price rose on Thursday and it reached a market value of $ 700 billion.
Although other lists, such as that of Forbes, they still place him behind Bezos, his success is undeniable.
What is your secret? A few years ago I spent almost an hour talking about exactly this with him.
To mark her new milestone, we decided to dust off the interview and share it with you. So here is Elon Musk’s guide to business success.
1. It’s not about the money
This is absolutely central to Musk’s attitude toward business.
When I interviewed him in 2014, he said he didn’t know how rich he was.
“It’s not like I have a ton of cash somewhere,” he said. “It’s just that I have a certain number of shares in Tesla, SpaceX and SolarCity, and the market places value on those shares.” He has nothing against the pursuit of wealth “if it is done in an ethical and good way,” but said that is not what drives him.
The approach certainly seems to be working.
But Musk, who turns 50 in 2021, doesn’t expect to die rich.
The businessman believes that most of his money will be spent on building a base on Mars, and it wouldn’t surprise him if the project consumed his entire fortune.
In fact, like Bill Gates, you would probably consider ending your life with billions in the bank to be a sign of failure for not putting that money to good use.
2. Follow your passions
That base on Mars is a clue to what Musk believes is the key to success.
“You want things to improve in the future,” he told me. “You want these new and exciting things to improve life.”
Take SpaceX as an example. Musk told me that he created the company because he was frustrated that America’s space program was not more ambitious.
“I kept hoping that we would move beyond Earth and that we would put a person on Mars, that we would have a base on the Moon and that we would have, you know, very frequent orbital flights,” he said.
As that was not happening, he came up with the idea for the “Mars Oasis Mission”, which aimed to send a small greenhouse to the red planet.
The idea was to get people excited about space again and persuade the US government to increase NASA’s budget.
As he tried to get that idea off the ground, he realized that the problem was not “a lack of will, but rather a lack of a way to do it” – space technology was far more expensive than necessary.
AND voila! SpaceX was born, the cheapest rocket launch business in the world.
But here’s the bottom line: His goal was not to make money, but to get a person to Mars.
Musk told me that he considers himself an engineer rather than an investor, and that what wakes you up in the morning is the desire to solve technical problems.
That is your criterion of progress, more than the dollars in the bank. He knows that every hurdle his companies overcome helps everyone else trying to solve the same problem, and it is solved forever.
That is why, shortly before we met, the businessman had announced that he was going to release all Tesla patents to accelerate the development of electric vehicles around the world.
3. Don’t be afraid to think big
One of the really amazing things about Musk’s businesses is how bold they are.
He wants to revolutionize the automobile industry, colonize Mars, build super-fast trains in vacuum tunnels, integrate artificial intelligence into human brains, and change the solar and battery industries.
His tunnel business is called The Boring Company.
But all his projects share a common thread. They’re the kind of futuristic fantasies you’d find in a children’s magazine from the early 1980s.
Musk makes no secret of the fact that he was inspired by the books and movies he consumed as a child in South Africa.
Which brings us to Musk’s third tip: don’t hold back.
He believes that having low ambitions is built into the incentive structures of most companies.
Too many companies are “incrementalists,” he said. “If you are the CEO of a large company and your goal is something that is a modest improvement, and it takes longer than expected and it doesn’t work as well, then no one will blame you,” he told me. “You can say it was not your fault, it was the providers.”
If you’re bold and looking for a truly game-changing upgrade, and it doesn’t work, you’ll definitely be fired, Musk argues.
He says this is why most companies focus on making small improvements to their existing products rather than daring to imagine completely new ones.
So his advice is to make sure you’re working on what he calls “things that are going to matter.”
Two things stand out in Musk’s personal hierarchy of things that matter.
First, speed up the transition to abandon fossil fuels.
This is what the businessman said about it: “We are turning to deep gas fields and deep oil fields that have not seen the light since the Cambrian era. If the last time something saw the light was when the most complex organism was a sponge, you really have to ask yourself if that is a smart decision. “
Secondly, wants to ensure the long-term survival of humanity by colonizing Mars and “making life multiplanetary.”
Like I say, think big.
4. Be ready to take risks
This one is obvious.
You have to have stamina in the game to do well, but Musk has taken more risks than most.
In 2002, he had sold his shares in his first two companies, a virtual city guide called Zip2 and the online payments company PayPal. He had just turned 30 and had almost $ 200 million in the bank.
He says his plan was to put half his fortune into business and keep the other half.
Things did not turn out that way. When I met him, he had just emerged from the darkest period of his business life.
His new companies faced all kinds of problems. The first three Space X launches had failed and Tesla had all kinds of production, supply chain and design issues. Then the financial crisis hit.
Musk said he faced a tough choice. “I could keep the money, and let the companies die, or invest what I had left and maybe there would be an opportunity.”
He kept spending money.
At one point he was so in debt that he had to borrow money from friends just to pay for his living expenses, he told me.
At the time, were you scared by the prospect of bankruptcy?
He says no: “My children would have had to go to a public school. Big Deal. I went to a public school ”.
5. Ignore criticism
What really surprised him, and in 2014 it became clear that he was still very upset about it, was the delight of many experts and commentators at his tribulations.
“The schadenfreude Liberal (pleasure in someone else’s bad luck) was really amazing, ”Musk said. “There were several blogs that were counting the time for Tesla’s death.”
I think people wanted him to fail because there is a kind of arrogance in his ambition.
Musk rejects this idea. “I think it would be arrogant if we said that we are definitely going to do it, rather than that we aspire to do it, and that we are going to do our best.”
This brings us to Musk’s next lesson on business success: Don’t listen to the critics.
He told me that he did not believe that SpaceX or Tesla could ever make money when he created them, and the truth is that no one else did.
But he ignored the apocalyptics and moved on anyway.
Why? Remember, this is a man who you judge success based on the important problems you have solved, not how much money you have made.
Think how liberating this approach is. He’s not worried about looking stupid because his big financial gamble hasn’t paid off, he’s all about pursuing big ideas.
This makes decision making so much easier because you can focus on what you think really matters.
And the market seems to like what it is doing.
In October, US investment bank Morgan Stanley valued SpaceX at $ 100 billion.
The company has transformed the spaceflight market, but what Musk is most proud of must be how his company has revitalized the American space program.
In 2020, its Crew Dragon rockets carried six astronauts to the International Space Station, the first such missions from US soil since the space shuttles were retired in 2011.
Follow this guide and hopefully, you too will become incredibly rich and famous. Then you can start to come out of your shell.
Musk is notorious for being a workaholic – he boasts of working 120 hours a week to keep Tesla Model 3 production on track, but since we met it seems like he’s been having fun.
He has fueled controversy around his figure with defamation lawsuits, live drug use, and outbursts on social media.
In 2018 he ran into trouble with the Securities Market Commission, the US financial regulator, when he tweeted that he planned to take Tesla public.
When the COVID-19 pandemic forced Tesla to shut down production at its San Francisco Bay factory, it became a staunch opponent of coronavirus restrictions.
On Twitter, he called the panic over the virus “foolish” and described the stay-at-home orders as “forced imprisonment”, saying they were “fascist” and a violation of constitutional rights.
He then announced plans to sell his physical possessions saying they “weigh.”
Days later, he said on Twitter that his newborn son would be named X Æ A-12 Musk.
However, their unpredictable behavior does not appear to have affected their business and the entrepreneur remains as ambitious as ever.
In September, Musk claimed that Tesla would have a “compelling” $ 25,000 car in three years, and said that soon all of the company’s new cars would be fully autonomous.
However, their year ended with a real bang in December, when SpaceX tested its Starship launch vehicle, which is expected to take the first humans to Mars.
The giant rocket exploded upon crashing six minutes after liftoff.
But Musk hailed the test as an “astonishing” success.
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The world’s richest person made the single-largest charitable contribution in 2020, according to The Chronicle of Philanthropy’s annual list of top donations, a $10 billion gift that is intended to help fight climate change.
Amazon’s founder and CEO, Jeff Bezos, whose “real-time” worth Forbes magazine estimates at roughly $188 billion (roughly Rs. 13,76,800 crores), used the contribution to launch his Bezos Earth Fund. The fund, which supports non-profits involved in the climate crisis, has paid out $790 million (roughly Rs. 5,800 crores) to 16 groups so far, according to the Chronicle.
Setting aside Bezos’ whopping gift, though, the sum total of the top 10 donations last year, $2.6 billion (roughly Rs. 19,000 crores), was the lowest since 2011, even as many billionaires vastly increased their wealth in the stock market rally that catapulted technology shares in particular last year. According to the left-leaning Americans for Tax Fairness and the Institute for Policy Studies, from March 18 through December 7, 2020, Bezos’ wealth surged by 63 percent, from $113 billion (roughly Rs. 8,27,600 crores) to $184 billion (roughly Rs. 13,47,600 crores).
Phil Knight, who with his wife, Penny, made the second- and third-largest donations last year according to the Chronicle, increased his wealth by about 77 percent over the same March-to-December period. Knight and his wife gave more than $900 million (roughly Rs. 6,600 crores) to the Knight Foundation and $300 million (roughly Rs. 2,200 crores) to the University of Oregon.
Fred Kummer, founder of construction company HBE Corporation, and his wife, June, gave $300 million (roughly Rs. 2,200 crores) to establish a foundation to support programmes at the Missouri University of Science and Technology.
Facebook’s founder Mark Zuckerberg and his wife, Priscilla Chan, delivered the fourth-largest donation on the Chronicle’s list: A $250 million (roughly Rs. 1,800 crores) gift to the Center for Tech and Civic Life, which worked on voting security issues in the 2020 election. Zuckerberg, whose wealth nearly doubled to $105 billion (roughly Rs. 7,68,900 crores) in the March-to-December period according to Americans for Tax Fairness and the Institute for Policy Studies, has been widely criticised and been called to testify before Congress for his company’s handling of disinformation in the runup to the 2020 presidential election.
In the fifth spot was Arthur Blank, co-founder of Home Depot, who gave $200 million (roughly Rs. 1,460 crores) through his foundation to Children’s healthcare of Atlanta to build a new hospital.
Bezos and the Zuckerbergs made up the next spots on last year’s top 10 list, with $100 million (roughly Rs. 730 crores) donations — Bezos for Feeding America to aid food banks across the country and the Zuckerbergs to the same election security group.
They were followed by Stephen Ross, founder of real estate firm Related Companies; David Roux, co-founder of Silver Lake, a private-equity firm, and his wife, Barbara; George, and Renee Karfunkel, real-estate investors; Bernard Marcus, co-founder of Home Depot; and Charles Schwab, founder of Schwab Financial Services, and his wife, Helen.
Two billionaires who donated heavily to charity last year, MacKenzie Scott, Bezos’ former wife, and Jack Dorsey, co-founder of Twitter — did not make the Chronicle’s list because no single donation of theirs was large enough to qualify. In February, the Chronicle will publish its list of the 50 biggest donors, which counts cumulative donations, not individual gifts.
What will be the most exciting tech launch of 2021? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.
The coronavirus pandemic has made working from home a key fixture in the new-normal for countless Britons.
And, when you can afford a luxury eight-digit property to house your home-office space, the world is your oyster.
Here, we round up some of the most-expensive properties on the market in the world’s richest locations: London, New York City, Hong Kong, Moscow and Shanghai.
In 2019, 84 of the 2,153 men and women on the Forbes World’s Billionaires List lived in New York City with a combined net worth of £348billion.
And, for a neat £18million, a six-bedroom, five-bathroom apartment overlooking Central Park could be yours.
Two separate bedroom wings make up the grand property – which also boasts a Great Room for entertaining.
The flat is situated above the glamorous Mandarin Oriental Hotel, giving the future-owner access to all the five-star amenities on offer – including gym access.
In London – where 55 billionaires make up £167.5billion of the city’s wealth – a £54.5million Grade II-listed townhouse is up for grabs.
The property – first built in 1732 – has been modernised and now boasts a swimming pool, a gym, a separate spa pool and a sauna.
£18,000,000 New York City
Number of billionaires: 84
Combined net worth: £347.6billion
New York is home to 84 billionaires with a net worth of £348billion – making this £18million six-bedroom apartment (its living area, pictured) small change
The property has stunning views of Central Park through its floor-to-ceiling windows making it a bright and open space
The flat has two separate bedroom wings and an entertaining space. It can feel open and loft-like or be divided into more discreet and private rooms for formal entertaining
A large entryway leads into the Great Room which overlooks Central Park. It has a family library, an informal family dining area, a formal dining room, and a large formal living room
The property’s study space is bright, airy and clean. The floor-to-ceiling windows give ample amounts of natural light
A flat has a state-of-the-art kitchen (pictured) with two ovens and a double sub-zero fridge with four freezers below. A kitchen island has an overhang for stools which can be left open to the entertaining space, or closed off when guests are over
The property looks out on to New York’s iconic Central Park. The flat is situated above the glamorous Mandarin Oriental Hotel
Click here to view this property on RightMove.
Number of billionaires: 55
Combined net worth: £167.5billion
This £54.5million 12-bedroom property, fitted with an indoor swimming pool (pictured), would be perfect for one of London’s 55 billionaires – who have a total net worth of £167.5billion
This 12-bedroom Grade II-listed terraced property which features a roof terrace is one of Mayfair’s original mansions. It features a cinema room (pictured) making it perfect for entertaining
The property (the living room, pictured) was first built in 1732 and extensively refurbished in 1908 by famed British architect Ralph Knott. The house was restored to its former glory but with modern qualities running throughout
The house has an enviable spa with one of Mayfair’s largest private swimming pools, a gym, a separate spa pool (pictured), sauna and a private screening room for post work-out relaxation
The property has a study – perfect for working from home – which features ample space for hosting important meetings
Pictured: One of the property’s bathrooms. A large stand-alone bath gives the room a breathtaking centre feature and the wooden floors and wall finishings give it a timeless feel
One of the property’s 12 bedrooms has a bright, sleek finish with clean wooden floors and panelled walls. The black touches add a classic, strong finish
Click here to view this property on RightMove.
Number of billionaires: 71
Combined net worth: £249billion
This stunning 15-bedroom 53rd-floor property in Mosfilmovskaya, Moscow, is on the market for £15,143,963. Pictured: One of the bedrooms
The property is sleek, modern and stylish. It has high ceilings and plenty of light fixtures. The white curtains separating the rooms gives it an airy finish
The property has a generously-sized bar with spotlight lighting pointing towards what would be a perfect dance floor – ideal for post-Covid entertaining
The property has a wine store fit for several bottles of the owner’s finest. A small table with seating makes a great spot for an evening of wine tasting
The property’s study is bright and spacious. A large desk makes it ideal for group working from home and its chalk board gives the owner space for creativity
Pictured: A bathroom in the property. It features a stand-alone bath tub and has dark, sleek flooring. The long curtains over a large window give it an airy, dream-like finish
The property features a futuristic office space with curved seating and light fixtures. The jewel room separators reflect the light beautifully
A fireplace and large book shelves give this room a cosy, sophisticated feeling. The furniture is classic and timeless
The ultra-modern property even has a cinema room with features including a second bar area
The property has a second cinema room – ideal as a cosy snug for family movie nights. The bright colours gives it a warm, child-friendly feel
The property’s living space is chic, bright and open-plan, allowing for an easy flow of movement between rooms
The property’s walk-in wardrobe has ample room for any future-owner’s designer goods. A ladder allows easy access to the highest shelves
Click here to view the property on Savills.
£82,887,490 Hong Kong
Number of billionaires: 79
Combined net worth: £263.2billion
A stunning renovated four-bedroom and five-bathroom property with rooftop terrace and a maids’ quarter in Hong Kong is on the market for £82.9million
The living room and dining room (pictured) lead out onto a terrace. Hong Kong is home to 79 billionaires with a net worth of £263.2billion
The property boasts a rooftop terrace, breathtaking views of Victoria Harbour and has two covered car parking spaces
The master bedroom features a walk-in wardrobe and its own balcony. The kitchen (pictured) is stylish and modern
The house has a sleek finish with wooden flooring (pictured). Large windows allow for ample natural light and make the property modern, bright and airy
Click here to view the property on Executive Homes.
Number of billionaires: 45
Combined net worth: £82billion
Shanghai is home to 45 of the 2,153 men and women on the Forbes World’s Billionaires List. This £9.3million property (its living room, pictured) would place one lucky buyer in an ideal city location
The property has stunning views of the city from its balcony. The floor-to ceiling windows offer ample natural light
The property’s study is stylish and well-finished. The deep wood gives it a warm, classic tone making it perfect for an executive
Click here to view this property on Century 21 Global.
The walnuts, almonds and peanuts they are packed with nutrients. They have protein, fiber, healthy fats, vitamins, and minerals.
Protein consumption is essential in a healthy diet. Protein is found in muscles, bones, skin, hair, practically any other part or tissue of the body.
Nuts are a healthy snack to help you stay full and complete your daily protein intake.
How much protein do you need per day?
An adult woman requires 46 grams of protein daily and a man, 56 grams. A minimum of 0.8 grams of protein is recommended for every kilogram of body weight per day. Very active people should eat 1.2 to 2 grams of protein per kilogram of body weight, according to the Mayo Clinic.
What are the highest protein nuts?
Although more than a nut it is actually a legume, their nutritional properties are very similar. The “cacao de tierra” is full of proteins, vitamins and minerals, which makes them a good food. Peanuts have 9.5 grams of protein per 1/4 cup (37 grams).
Peanuts stand out because they contain high levels of niacin and they are a good source of Vitamin E, two nutrients that protect against age-related cognitive decline. Including peanuts in your diet can help to preventAlzheimer’s, according to Harvard researchers.
In addition, they are one of the best sources of biotin, a vitamin that helps convert carbohydrates, fats and proteins that we consume into energy.
Almonds are a crunchy and creamy seed rich in protein, fiber, vitamin E and magnesium. In 1/4 cup (35 grams) there are 7 grams of protein. The magnesium regulates muscle and nervous system function, blood sugar levels, and blood pressure.
Pistachios contain many protein and they are also a source of antioxidants and healthy fatty acids. There are 6 grams of protein per 1/4 cup (30 grams) of pistachios.
Pistachios are among the nuts with fewer calories. There are 170 calories in ¼ cup, while there are 196 calories in ¼ cup of walnuts.
4. Cashew nuts
In 1/4 cup (32 grams) of cashews there are 5 grams of protein. Cashews are also an excellent source of copper. The body uses copper to produce Energy, connective tissues, blood vessels and the brain development. Copper also helps maintain the nervous system and immune system and activates genes.
In 1/4 cup (34 grams) of hazelnuts there are 5 grams of protein. Hazelnuts are rich in nutrients, provide magnesium, calcium and vitamins B and E.
According to a study published in the Journal of Clinical Lipidology, hazelnuts can help lower cholesterol.
Walnuts, almonds and peanuts are not only a source of protein, they stand out for their healthy fats, which can improve blood cholesterol levels,relieve inflammation and stabilize the heart rate.
Musk’s net worth has increased by $ 100.3 billion so far in 2020.
PHILIP PACHECO / AFP / Getty Images
The co-founder of Tesla, Elon musk, is now the second richest person in the world after having surpassed Bill gates from Microsoft, according to the Bloomberg Billionaires Index, which tracks the fortunes of the 500 richest people in the world.
The 49-year-old businessman, who is also a co-founder of the space exploration company SpaceX, saw his net worth increase by $ 7.2 billion to reach a figure of $ 128,000 million on Monday, as Tesla shares rose days after news that the electric car company it will be admitted to the S&P 500 index in December.
Musk’s net worth has increased by $ 100.3 billion in 2020,marking the largest increase among the Bloomberg Billionaire Index. In January alone, Musk ranked 35.
It was last week when Musk pushed the CEO of Facebook, Mark Zuckerberg, to the fourth position when it was awarded third place. The only person ahead of Musk is Jeff Bezos, the head of Amazon, who took the top spot from Gates in 2017 and has remained there ever since.
Related: Elon Musk questions the accuracy of the COVID-19 tests: he says it tested positive and negative successively.
It is the second time in eight years that Gates has not been ranked in the top two on the index. The Microsoft founder’s estate is $ 127.7 billion that it would be greater if it weren’t for the philanthropic efforts that it makes. The Bill and Melinda Gates Foundation has donated more than $ 27 billion since 2006.
During this pandemic year, those on the Bloomberg Index have jointly added a 23 percent to his net worth, that is to say, $ 1.3 trillion while millions of workers have faced financial difficulties after being laid off by their employers due to the current coronavirus pandemic.
Elon Musk has passed Microsoft co-founder Bill Gates to become the world’s second richest person, according to the Bloomberg Billionaires Index. The Tesla CEO’s net worth now sits at around $128 billion, after increasing by $100 billion this year. There is a sizable gap between Musk and the number one spot, which is currently held by Amazon CEO Jeff Bezos who has a reported net worth of around $182 billion. In January, Musk ranked 35th on the list, Bloomberg reports.
For an idea of how the wealth of these men compares to the average American household, check out this amazing data visualization produced earlier this year in which every pixel represents $1,000.
Musk’s rapid ascent up the list has mainly been driven by Tesla’s share price. The car company currently has a market cap of almost $500 billion, after starting the year at under $100 billion. The Guardian reports that Tesla has the highest market cap of any car company in the world, despite producing a fraction of the cars of more established automakers. This year it expects to produce 500,000 cars, compared to around 10 million for a company like Toyota. Around three quarters of Musk’s net worth consists of Tesla shares, according to Bloomberg.
Musk’s other major venture, SpaceX, has also seen recent success. Last week the company transported four astronauts to the International Space Station aboard its Crew Dragon spacecraft. It follows the company’s first crewed flight to space in May this year.
Bill Gates sat atop the Billionaires Index for years until he was overtaken by Jeff Bezos in 2017. Bloomberg notes that Gates would probably have a higher net wealth right now if he hadn’t given so much money to charity, including the over $27 billion he’s donated through the Bill & Melinda Gates Foundation since 2006.
Gates and Musk have had some high-profile disagreements this year. In September, Musk said Gates had “no clue” about the viability of electric trucks, after the Microsoft co-founder said that electric semi-trucks, along with electric cargo ships and passenger jets, will “probably never” be practical. Earlier this year Gates told CNBCthat Musk should avoid making big predictions about areas he’s not familiar with, after the Tesla CEO downplayed the risk of the COVID-19 pandemic.
Musk overtook Facebook CEO Mark Zuckerberg last week when he became the third-richest person on the Billionaires Index. Zuckerberg has since fallen to fifth in the rankings after he was overtaken by French businessman Bernard Arnault.
Elon Musk overtakes Bill Gates to become the second-richest person in the world after his net worth rose by $100BILLION in a year – a five-fold increase to a total $127.9bn – after Tesla shares prices soared 500%
Elon Musk added more than $100 billion to his net worth this year to $127.9bn
He has passed Bill Gates as the world’s second-richest person at $127.7bn
Musk’s fortune comes as a result of a massive surge in Tesla stock, which has rocketed more than 500% so far this year
On Monday Tesla stock rose 6.58% to a record close of $521.85
It saw Musk’s fortune grow by $7.2 billion in a single-day
Musk began the year in 35th place on the Bloomberg Billionaires Index
By James Gordon For Dailymail.com
Published: | Updated:
Billionaire entrepreneur Elon Musk has overtaken Bill Gates to become the second-richest person in the world just weeks after he passed Mark Zuckerberg to become the third-richest.
It means only Amazon founder Jeff Bezos lies now ahead of him in the rankings. In January he ranked 35th on the Bloomberg Billionaires Index.
Musks’ wealth soared after his electric car company Tesla was selected to join the S&P 500.
Tesla will enter the S&P 500, a stock market index that measures the performance of 500 large companies listed on the US stock exchange, on December 21 after it failed to make the cut back in September.
Elon Musk has added more than $100 billion to his net worth this year to reach $127.9bn
Musk passed Bill Gates as the world’s second-richest person at $127.7bn
The 49-year-old’s net worth soared $7.2 billion to $127.9 billion, driven by a surge in Tesla’s share price, according to Bloomberg.
The South African-born billionaire owns a 20 per cent stake in Tesla, which has seen its share price rise more than five-fold so far this year.
This year has been a wildly successful year for Musk – who saw his rocket company SpaceX send four astronauts into space earlier this month, fulfilling its first commercial contract with the US space agency Nasa.
This year alone the Musk has seen his fortune grow by $100.3 billion.
About three-quarters of Musk’s net worth is comprised of Tesla shares, which are valued more than four times as much as his stake in Space Exploration Technologies Corp., or SpaceX.
Tesla’s share price has soared more than 500% so far in 2020 which has contributed vastly to Musk’s wealth
Bloomberg Billionaires Index – Top Ten
1 Jeff Bezos $182B Amazon.com
2 Elon R Musk $128B Tesla / Space X
3 Bill Gates $128B Microsoft
4 Bernard Arnault $105B LVMH Moët Hennessy – Louis Vuitton
5 Mark Zuckerberg $102B Facebook
6 Warren Buffett $86.8B Berkshire Hathaway
7 Larry Page $81.3B Google co-founder
8 Sergey Brin $78.7B Google co-founder
9 Steve Ballmer $76.1B Microsoft
10 Mukesh Ambani $74.0B India Energy
As it stands, Tesla is already the most valuable car 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.
Tesla is now valued at more than Disney, Toyota and Coca-Cola and has a market cap of almost $500billion.
To be eligible to join the S&P 500 a company must be based in the US, have a market capitalization of at least $8.2billion, be liquid and at least half of its shares must be available to the public, according to CNN. Companies must also report four straight quarters of profit.
Tesla reported its fifth consecutive quarter of profit with third-quarter revenue of $8.77billion.
Musk’s position at number two means Bill Gates is pushed into third for only the second time in eight years.
Gates was bumped off the top spot which he had held for years, by Amazon.com founder Jeff Bezos in 2017.
Gates’s net worth of $127.7 billion would be far higher were he not to have donated so much to charity over the years.