By Mike Murphy
Elon Musk has added more than $100 billion to his net worth this year, and has passed Bill Gates as the world’s second-richest person.
That’s according to the Bloomberg Billionaires Index , which on Monday ranked the Tesla Inc. chief executive — with a $127.9 billion fortune — above Gates — at $127.7 billion — for the first time.
Musk has profited from the massive surge in Tesla stock, which has skyrocketed more than 520% year to date. Tesla /zigman2/quotes/203558040/composite TSLA -2.23% rose more than 6% to a record close of $521.85 in Monday trading, ending the day with a market cap of around $464 billion. That equated to a $7.2 billion single-day gain in Musk’s net worth.
Musk began the year in 35th place on the index.
Bloomberg noted Gates, the co-founder of Microsoft Corp. /zigman2/quotes/207732364/composite MSFT -0.17% , would likely place higher if he had not given away more than $27 billion of his fortune to the Gates Foundation since 2006.
Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN -0.74% Chief Executive Jeff Bezos is the world’s wealthiest individual, with a fortune of $182 billion, according to Bloomberg, up more than $67 billion this year.