Elon Musk, CEO of Tesla and SpaceX, among others, has overtaken Microsoft founder Bill Gates on the list of the richest people in the world.

He is now the second richest person in the world.

Musk's net worth increased by the rising Tesla share price by $ 7.2 billion, about $ 6.1 billion, to a total of $ 127.9 billion ($ 108 billion).

Musk, 49, has already seen his net worth increase by $ 100.3 billion this year, making it the fastest riser on Bloomberg's billionaire index, a ranking of the 500 richest people in the world.

In January he was still in 35th place.

Musk's rapid rise in the rankings is largely due to Tesla, whose total value is currently around $ 500 billion.

About 75 percent of Musk's net worth is in Tesla shares, which are worth about four times as much as his stake in space company SpaceX.

It is the second time in eight years that the hugely wealthy tech entrepreneur and philanthropist Bill Gates has been lower than second in the Bloomberg rankings.

Gates topped the list for years, until Amazon founder Jeff Bezos amassed a bigger fortune in 2017.

However, Gates' fortune of $ 127.7 billion would be much greater if he and his wife Melinda didn't make a lot of charitable donations.

Since 2006, they have invested more than $ 27 billion in the Bill & Melinda Gates Foundation.

Gates and Musk rival each other not only in the size of their wealth.

Musk wrote on Twitter, among other things, that Gates "has no idea" about electric trucks.

Billionaires have also verbally crossed swords about the corona pandemic.

Gates, whose foundation has donated heavily to vaccine research, has expressed concern about Musk's suspicions about corona statistics and the conspiracy theories that Musk has spread.

2020 has been a lucrative year for the super rich for the time being.

Despite the pandemic and a global wave of layoffs affecting mostly the world's working people and poor, people on the Bloomberg billionaires index have become 23 percent richer since the year began, some $ 1.3 trillion (about $ 1,097). billion euros).