Elon Musk's wealth rockets by $15 billion on Tesla's S&P 500 entrance. He's about to become the world's third-richest person.
The Tesla founder and CEO is set to become the world's third-richest person as he overtakes Facebook's Mark Zuckerberg.
Tesla's inclusion in the exclusive index left Musk with a net worth of about $117 billion on Monday evening, according to the Bloomberg Billionaires Index.
His company will be placed alongside other valuable firms like Apple, Amazon, and Berkshire Hathaway.
Tesla's inclusion in the exclusive index left Musk with a net worth of about $117 billion on Monday evening, according to the Bloomberg Billionaires Index.
His company will be placed alongside other valuable firms like Apple, Amazon, and Berkshire Hathaway.
Elon Musk's personal wealth grew by $15 billion after Tesla got a spot in the S&P 500 index on Monday. He is on track to become the world's third-richest individual, overtaking Facebook's Mark Zuckerberg.
After Tesla's inclusion in the index was announced, the automaker's shares soared 14% in after-hours trading and closed at $408.09 per share.
Musk's net worth swelled to $117.5 billion as of Monday evening, according to the Bloomberg Billionaires Index. His overall $90 billion gain this year has been the highest among the entire list of 500 billionaires.
The latest expansion in his wealth means that he would overtake Zuckerberg, who currently has a net worth of $106 billion.
Tesla, with a market capitalization of $400 billion, met requirements to be included in the index and will join as one of the 10 most valuable companies on December 21.
Among the requirements to join the S&P 500, companies must be US-based, have a market cap of at least $8.2 billion, be highly liquid, have at least 50% of their shares available to the public, and post four successive profitable quarters.
Musk's company will be placed alongside other valuable firms like Apple, Amazon, and Berkshire Hathaway.
S&P Global did not say which firm Tesla would replace, saying that it would make mention of in a separate release.
Separately, the Tesla and SpaceX CEO said this weekend that he "most likely" has a moderate case of 1COVID1-19, but questioned the reliability over mixed test results he had.
After Tesla's inclusion in the index was announced, the automaker's shares soared 14% in after-hours trading and closed at $408.09 per share.
Musk's net worth swelled to $117.5 billion as of Monday evening, according to the Bloomberg Billionaires Index. His overall $90 billion gain this year has been the highest among the entire list of 500 billionaires.
The latest expansion in his wealth means that he would overtake Zuckerberg, who currently has a net worth of $106 billion.
Tesla, with a market capitalization of $400 billion, met requirements to be included in the index and will join as one of the 10 most valuable companies on December 21.
Among the requirements to join the S&P 500, companies must be US-based, have a market cap of at least $8.2 billion, be highly liquid, have at least 50% of their shares available to the public, and post four successive profitable quarters.
Musk's company will be placed alongside other valuable firms like Apple, Amazon, and Berkshire Hathaway.
S&P Global did not say which firm Tesla would replace, saying that it would make mention of in a separate release.
Separately, the Tesla and SpaceX CEO said this weekend that he "most likely" has a moderate case of 1COVID1-19, but questioned the reliability over mixed test results he had.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
