Elon Musk has overtaken Bill Gates to become the world’s second richest person

https://www.cnbc.com/2020/11/24/elon-musk-overtakes-bill-gates-to-become-worlds-second-richest.html

Tesla co-founder Elon Musk is now the world’s second richest person after he leapfrogged Microsoft billionaire Bill Gates, according to the Bloomberg Billionaire Index, which tracks the wealth of the world’s 500 richest people.

The 49-year-old entrepreneur, who is also the co-founder of space exploration firm SpaceX, saw his net worth rise by $7.2 billion to $128 billion on Monday as Tesla shares surged days after the news that the electric car company will be admitted to the S&P 500 index in December.

Musk’s net worth has risen by $100.3 billion in 2020, marking the largest increase among those on the Bloomberg Billionaire Index. In January, Musk ranked 35th.

Last week, Musk pushed Facebook CEO Mark Zuckerberg down into fourth position when he claimed the third spot.

The only person ahead of Musk now is Amazon boss Jeff Bezos, who took the top spot from Gates in 2017 and has stayed there since.

The move forces Gates down into third place, marking only the second time in the index’s eight-year history that he hasn’t been ranked in the top two. However, Gates’s net worth of $127.7 billion would be considerably higher if it weren’t for his philanthropic endeavors. Since 2006, he has given over $27 billion to the Bill and Melinda Gates Foundation.

This year, those on the Bloomberg index have collectively added 23%, or $1.3 trillion, to their net worth as millions of workers face financial hardship after being laid off by their employers due to the ongoing coronavirus pandemic.  

How screwed up is it as over 260,000 people have died, millions out of work, millions losing their housing, millions going hungry these billionaires increase their wealth 1.3 trillion.   I think they can afford to be taxed a lot more than they are.   Hugs

7 thoughts on “Elon Musk has overtaken Bill Gates to become the world’s second richest person

  • If Biden follows through on his campaign promises, they WILL be taxed more. They will scream … they will threaten … they will vow to never vote Democrat … but they will pay. 😈

    Liked by 4 people

  • Inspired is right, of course. Even if we can get the other two sensors, it will still be a hard push. To levy is one thing, to collect is another. They will pay a lawyer $2000 to save $5 in tax. It’s the principle of the thing. Capitalism has had free rein since Reagan, at least.

    Congress needs to recover its authority over trade and commerce. I know. Everybody in capitalism and the church are going to scream ‘socialism’, but regulated commerce and industry is not socialism. It is constitutional law.

    Where is Teddy Roosevelt when you need him?

    Liked by 3 people

    • Hello Cagjr. I understand what you are saying. Last year during the primaries I posted a lot of progressive policy stuff. I got tons of push back about socialism and communism from people who did not understand either of them, and they sure did not understand social democracies. The saddest thing is these people have been taught to ignore other countries where the people have it better. They have been taught it is unpatriotic to think other countries do something better than the US. The drum beaten into them is USA is #1. So when you try to show them how people in other countries have higher standards of living, universal healthcare, free education, far better working conditions, more vacation time and so much more they simply claim it is not true. Sad what our country has deteriorated into. Hugs

      Liked by 2 people

      • ” Even if we can get the other two sensors” How I got ‘sensors’ in there rather than Senators, I don’t know, but it seems everyone understood.

        Capitalists are like the Christians in that any legislation they don’t approve of will cause them to go bankrupt, hinder their growth, cause them to lay off workers, etc. They cry persecution and foul. When Reagan allowed them to leave the country with their factories in tow, they never hesitated. They expect to be allowed to do business and not be required to invest in society other than minimum wages. They spend money on lobbyists and politicians to get their legislation.

        And, yes, all the time telling people who have to work two or three jobs, with no healthcare or other perks, just how good they have it. The sad thing is, these people keep drinking the slop and putting people in the legislature who work against them. How much better we could do with some progressive policies.

        Preventative healthcare is a lot cheaper than treating illnesses and repairing what is broken. A reasonable wage for the time, skill, and labor of the workforce. People need to be able to plow extra income back into the economy, not to scrimp and scrape to just get by. Maybe, if we can get those Democratic Senators from Georgia, we can break Moscow Mitch’s chokehold on Congress. Maybe we can prevent some of the businesses from going under. Get control of this pandemic. Save some lives. Return America to the pre-trump era.

        Liked by 1 person

        • Hello Cagjr. Well said. I often try to get people to look at the happiness and standards of living ratings of other countries and ask them why they don’t want those same things? But too many have bought into the fantasy that the US is the best at everything. Hugs

          Liked by 1 person

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