- Elon Musk’s fortune jumped by $ 15 billion after Tesla took a place in the S&P 500 index on Monday.
- Tesla’s founder and CEO will become the third richest man in the world after overtaking Mark Zuckerberg of Facebook.
- Tesla’s inclusion in the exclusive index left Musk with a net worth of about $ 117 billion on Monday night, according to the Bloomberg Billionaires Index.
- His company will be located alongside other valuable companies such as Apple, Amazon and Berkshire Hathaway.
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Following the announcement of Tesla’s inclusion in the index, the automaker’s shares jumped 14% in trading hours later and closed at $ 408.09 per 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 is the highest among the entire list of 500 billionaires.
The latest increase in his fortune means he would be ahead of Zuckerberg, who currently has a net worth of $ 106 billion.
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Tesla, with a market capitalization of $ 400 billion, has met the requirements 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 US-based, 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 consecutive winning quarters.
Musk’s company will be placed alongside other valuable companies such as Apple, Amazon and Berkshire Hathaway.
S&P Global did not say which company Tesla would replace, saying it would mention it in a separate issue.
Separately, the CEO of Tesla and SpaceX said this weekend that there was “most likely” a moderate case of COVID-19, but questioned the reliability of the mixed test results it had.
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