Elon Musk, 49, has passed Microsoft co-founder Bill Gates to become the world’s second-richest person.
This is happening only a week after he overtook Facebook’s Mark Zuckerberg to become the third-richest.
Tesla, an electric car company’s value has risen following the announcement that it would join the S&P 500 index of leading US companies, driving its market value close to $500bn.
Mr Musk, is now worth more than $128 billion (£95bn) as he owns 20% of all of the company’s shares, which have risen by more than 675% since 25 November last year, when they were valued at $67.27 (£50.33) each.
Amazon founder and chief executive Jeff Bezos remains at the top of the Bloomberg rich list, with an estimated net worth of $182bn (£136bn).
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