Elon Musk on Monday came out on the third place in the list of the richest people in the world. He beat Facebook co-founder Mark Zuckerberg to the lead after Tesla shares continued their rapid growth. According to the Bloomberg Billionaires Index, which is updated at the end of each market day, Musk’s net worth was $ 111.9 billion, compared to Zuckerberg’s $ 111.2 billion.

The wealth of the world’s richest man has reached 200 billion dollars

Musk’s fortune has skyrocketed this year by $ 76.1 billion on the back of a more than 475 percent increase in Tesla’s stock price. Tesla’s market value of $ 454 billion currently exceeds the market value of us retail giant Walmart Inc., the largest company in the US by revenue. Last week, Musk, 49, joined Zuckerberg, Jeff Bezos and bill gates of Amazon in the club of the richest billionaires. This was facilitated by a sharp increase in the share price of technology companies during the pandemic. Musk, who revealed a chipped pig to the world last week, has a long way to go to become the world’s richest man. Bezos ‘ fortune, according to various sources, ranges from 200 to 270 billion dollars.

Meanwhile, experts say the rapid pace of individual wealth accumulation in recent months is in stark contrast to the deteriorating state of the global economy, which has slowed sharply since the pandemic began and companies have been forced to lay off millions of workers. Because of this, consumer demand has fallen sharply. The main burden of economic problems is borne by young and low-paid workers, whose jobs are more vulnerable to layoffs related to the coronavirus pandemic.