Elon Musk is rocketing up the rank of the world's richest people. Following the latest bump in stock price of Tesla, the automaker's CEO, as well as the founder of SpaceX-Boring Company-Neuralink, is now officially the second-richest person on the planet with a net worth of $127.9 billion. According to Bloomberg, he managed to overtake Bill Gates who has a net worth of $127.7 billion.

On paper a $0.2 billion gap is slim but do remember that it's still $200 million. That's roughly PhP 9.627 billion. Mind you the 49-year old entrepreneur managed to do this despite the ongoing pandemic and widespread layoffs around the world.

Musk managed to surge up in the richest person's list as the majority of his wealth is directly connected with Tesla's share price going up. Unfortunately, all that money isn't in stacks of cash or gold bars similar to what Scrooge McDuck would have.

Per Bloomberg's report, he currently owns around 20% of the company's stock which is currently listed at around $555 per share (as of writing). For comparison, the same stock was trading at around $86 earlier this January. We're sure those with Tesla stocks are quite happy with what's happening. Aside from Tesla, the rest of Musk's net worth is from his other companies such as SpaceX.

With Musk overtaking Gates, it certainly is a big achievement. However, the Tesla CEO is still quite far behind Amazon-founder Jeff Bezos with $182 billion net worth, currently the world's richest person. But given the rapid increase in Tesla's stock, it might not be long before Musk manages to reach the same numbers or even beyond it.