Elon Musk Surpasses Mark Zuckerberg to Become World’s Third Richest Man

The Tesla and SpaceX CEO has pledged to donate most of his billions to philanthropy.

Elon Musk and girlfriend Grimes.
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Tesla, SpaceX and The Boring Company CEO Elon Musk is now the world’s third- richest man. The South African-born tech mogul’s net worth just jumped to a staggering $115.4 billion, making him wealthier than Facebook CEO Mark Zuckerberg, who has a net worth of $110.8 billion.

The news comes from Bloomberg Billionaires Index, which provides daily updates on the fortunes of the world’s 500 richest people. Musk is now behind Microsoft cofounder Bill Gates at No. 2 with $125 billion and Amazon CEO Jeff Bezos at No. 1 with $202 billion.

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Musk’s latest standing is the result of a Tesla stock split sent shares soaring as high as 12 percent, Business Insider reports. His net worth has grown by a massive $87.8 billion in 2020 alone, 

However, Musk ostensibly isn’t concerned about accumulating money. In May, he tweeted, “I am selling almost all physical possessions. Will own no house,” before clarifying that he would retain Hollywood legend Gene Wilder’s former property. 

He has since agreed to put four of his LA properties on his market, worth a combined $62.5 million. BI reports that his LA real estate portfolio appears to be his single largest expense. 

Musk has also signed the Giving Pledge, an initiative created by Bill and Melinda Gates and Warren Buffet that invites billionaires to publicly commit the majority of their wealth to philanthropy.