Elon Musk pips Zuckerberg to become World's 3rd richest person

1st Sept, 2020

Elon Musk on Monday became the third richest person in the world. According to the Bloomberg Billionaires Index, Musk was worth $111.3 billion compared with $110.5 billion for Zuckerberg on Monday. The development came after the shares of Tesla rallied following a forward stock split. As Tesla shares surged almost 500 per cent, there is a rise in Musk's wealth and his net worth grew by $87.8 billion this year.

According to the report with Bloomberg, Tesla has been one of the largest beneficiaries of the retail investment boom during the coronavirus pandemic lockdown. Last month, as many as 40,000 Robinhood accounts added Tesla shares during a single four-hour span.

Last week, Musk joined Zuckerberg, Bezos and Microsoft Corp. co-founder Bill Gates in the rarefied centibillionaire club as tech stocks rose.