Elon Musk is just a Tesla stock rally away from unseating fellow mega-billionaire — and occasional verbal sparring partner — Bill Gates as the second-richest person on the planet.
As of Thursday, Musk’s net worth was $123 billion, $5 billion shy of Gates on the Bloomberg Billionaires Index, a ranking of the world’s 500 richest people.
Bloomberg News reported that Musk’s net worth soared $10.2 billion on Wednesday after Tesla shares climbed 10% on the strength of an overweight rating by Morgan Stanley. Analyst Adam Jonas predicted in a note that the company was on the brink of transitioning from being mainly a car-retailing business to one with multiple revenue streams from products like software and services.
It was the second day of banner gains for Musk. His fortune rose $7.6 billion on Tuesday after the electric-car maker was named for inclusion in the S&P 500 Index. Tesla’s meteoric rise