Top Business magnate and Tesla’s CEO Elon Musk has officially overtaken Microsoft’s Bill Gates to become the world’s second-richest person after Jeff Bezos, who is currently the world’s richest person with a net worth of USD 183.6 billion.

American philanthropist Bill Gate’s net worth stands at USD 127.7 billion after giving away USD 27 billion for his philanthropy works through Bill & Melinda Gates Foundation.

Musk saw his net worth rise by about USD 7 billion to USD 128 billion on Monday, according to the Bloomberg Billionaires Index, as Tesla’s market value nears USD 500 billion.

Elon was ranked as 35th most-richest in January on the Bloomberg Billionaires Index. With a surge in Tesla Inc.’s share price Musk added USD 100.3 billion to his net worth this year.

Born in 1971, 41-year-old Musk is the brain behind SpaceX (Space Exploration) and he was ranked 25th on the Forbes list of The World’s Most Powerful People.

With ventures like Tesla, SpaceX, The Boring Company, Neuralink and OpenAI, Elon Musk was considered the Most Innovative Leaders of 2019 by Forbes.