- Elon Musk’s wealth jumped $ 15 billion after Tesla landed a spot in the S&P 500 Index on Monday.
- The founder and CEO of Tesla is on his way to becoming the third richest person in the world ahead of Facebook’s Mark Zuckerberg.
- Tesla’s inclusion in the exclusive index left Musk with a net worth of around $ 117 billion on Monday night, according to the Bloomberg Billionaires Index.
- His company will be placed alongside other valuable companies like Apple, Amazon and Berkshire Hathaway.
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Elon Musk’s personal wealth rose $ 15 billion after Tesla secured a place in the S&P 500 Index on Monday. He is on track to become the third richest individual in the world, overtaking Facebook’s Mark Zuckerberg.
After the announcement of Tesla’s inclusion in the index, shares of the automaker climbed 14% after hours and closed at $ 408.09 per share.
Musk’s net worth soared to $ 117.5 billion Monday night, according to the Bloomberg Billionaires Index. His overall gain of $ 90 billion this year was the highest on the entire 500 billionaire list.
The latest expansion of his wealth means he would overtake Zuckerberg, who currently has a net worth of $ 106 billion.
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Tesla, with a market cap of $ 400 billion, has qualified for inclusion in the index and will join one of the 10 most valuable companies on December 21.
Among the conditions to join the S&P 500, companies must be based in the United States, have a market capitalization of at least $ 8.2 billion, be highly liquid, have at least 50% of their shares at the disposal of the public and post four successive profitable quarters.
Musk’s company will be placed alongside other value companies like Apple, Amazon and Berkshire Hathaway.
S&P Global did not say which Tesla company would replace, saying it would mention it in a separate statement.
Separately, the CEO of Tesla and SpaceX said over the weekend that he “very likely” had a moderate case of COVID-19, but questioned the reliability of the mixed test results he had.
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