Tesla co-founder Elon Musk on Monday surpassed Bill Gates to become the world’s second-richest person. The 49-year-old billionaire's net worth soared to USD 127.9 billion, driven by yet another surge in Tesla's share price on Monday.

Only last week, Elon Musk, who also founded SpaceX among other ventures, overtook Facebook CEO Mark Zuckerberg to become the world’s 4thrichest person, after Bezos, LVMH chairman Bernard Arnault and Microsoft co-founder Bill Gates. At the start of the year, he ranked 35th in the list of the world's richest persons.

In January, Musk was at the 35th spot of the Bloomberg Billionaires Index--a ranking of the world's 500 wealthiest people. His rise on the Index is largely driven by Tesla, whose market value is $491 billion. Musk added USD 100.3 billion to his net worth in 2020, more than any other person on Bloomberg's ranking of the top 500 richest people in the world, Bloomberg News reported. Musk remains behind Bezos who sits about USD 182 billion in net worth.

Gates have held the top spot in the Bloomberg Billionaires Index for years. However, in 2017, Amazon Inc founder Jeff Bezos briefly piped Gates, when the former's net worth swelled to $90.6 billion. At present, Gates's net worth is USD 127.7 billion. It would be much higher had he not donated so extensively to charity over the years. He has given more than $27 billion to his namesake foundation since 2006.

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