Elon Musk’s swift climb up the rungs of the world’s richest men continues steadily.
The Tesla CEO’s net worth soared on Monday as shares of his electric automaker hit a record high, boosting his net worth to $127.9 billion, according to the Bloomberg Billionaires index, which tracks the world’s 500 wealthiest people.
For a couple of hours that put him slightly above Bill Gates, the co-founder of Microsoft and world’s second-richest person, who was estimated to be worth $127.7 billion.
The latest readout from Bloomberg has the men tied on $128 billion each.
Elon Musk’s fortunes are directly linked to those of Tesla. His biggest asset is the company’s stock, of which he last owned about 20%, according to Bloomberg.