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SpaceX founder Elon Musk.
- Elon Musk’s wealth shot up $ 15 billion after Tesla landed a spot on the S&P 500 Index on Monday.
- The founder and CEO of Tesla will become the third richest person in the world when he surpasses Facebook’s Mark Zuckerberg.
- The inclusion of Tesla in the exclusive index left Musk with a net worth of about $ 117 billion Monday night, according to the Bloomberg Billionaires Index.
- His company will rank alongside other valuable firms like Apple, Amazon and Berkshire Hathaway.
- Visit the Business Insider home page for more stories.
Elon Musk’s personal wealth grew by $ 15 billion after Tesla landed a spot on the S&P 500 index on Monday. He’s on his way to becoming the third richest person in the world, surpassing 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 a share.
Musk’s net worth rose to $ 117.5 billion as of Monday night, according to the Bloomberg Billionaires Index. His total profit of $ 90 billion this year has been the highest among the entire list of 500 billionaires.
The latest expansion of his wealth means that he would surpass Zuckerberg, who currently has a net worth of $ 106 billion.
Tesla, with a market capitalization of $ 400 billion, qualified for inclusion 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 based in the US, have a market capitalization of at least $ 8.2 billion, be highly liquid, have at least 50% of their shares available to the public and publish four successive profitable quarters.
Musk’s company will sit alongside other worthy firms such as Apple, Amazon and Berkshire Hathaway.
S&P Global did not say which company Tesla would replace, saying it would mention in a separate statement.
Separately, the CEO of Tesla and SpaceX said this weekend that he “probably” has a mild case of Covid-19, but questioned the reliability of the mixed test results he had.
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