Elon Musk outranked social media magnate Mark Zuckerberg on the list of the world's wealthiest people. 

Bloomberg recently released their Billionaire Index, which ranks and analyzes billionaires' profiles. In the report, the media company cited that the tech mogul's net worth is now $115.4 billion, making him the third richest person on the planet. In comparison, the Facebook CEO landed on the fourth spot with an estimated net worth of $110.8 billion. 

Meanwhile, the title for the world's richest man remains with the founder and CEO of the multinational technology company Amazon, Jeff Bezos. He has a net worth of $205 billion. 

The internet entrepreneur is also expected to become the first trillionaire by 2026 based on a study conducted by Comparison. Bezos' ex-wife MacKenzie Scott also moved up and became the world's richest woman with a net worth of $66.4 billion.

It came after she received a four percent stake in Amazon as part of her divorce from her husband. 

Moreover, the second spot is owned by Microsoft Corporation co-founder Bill Gates with a $126 billion net worth. 

Tesla's Revenue Increased by 500 Percent

On the other hand, Elon Musk's wealth soared, thanks to his electric vehicle and clean energy company Tesla. 

According to reports, Tesla's net worth is now a whopping $475 billion after its revenue skyrocketed by 500 percent this year. 

To recall, the company entered the Chinese market during the last quarter of 2019 and has since reached strong delivery figures. 

In addition, Tesla's recent gains surpassed the market cap of Ferrari, Ford, General Motors and BMW combined, as well as the retail giant Walmart Inc (which is the largest company in America by revenue).

Aside from his California-based company, the 49-year-old tech mogul and philanthropist is also the founder of several corporations such as The Boring Company, Hyperloop, OpenAI, and aerospace manufacturer and space transportation services company SpaceX. 

Meanwhile, CNN noted that Tesla -- with its shareholders' approval in 2018 -- doesn't pay him any salary or cash bonuses as his pay package, but he gets paid in millions of stock options. 

"It laid out a plan that could eventually give him 20.3 million stock options over the course of 10 years, in 12 equal blocks of 1.7 million options, as long as the company hits a series of operational and market value," per the news outlet. 

Musk also spoke about his booming wealth and revealed that what he truly cares about is not the figures but creating the products. 

"I really couldn't care less," he told Forbes. "These numbers rise and fall, but what really matters is making great products that people love."

Elon Musk Getting Rid of All His Physical Belongings Such as His House

Despite Musk climbing up the billionaire ladder, he frequently discusses his disinterest in his fortune.

In May, the SpaceX founder took to Twitter to share his desire to sell "almost all" of his physical belongings, including his house. 

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