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Elon Musk

$15 Billion More in Elon’s Pockets

Elon Musk’s pockets just got $15-billion heavier after S&P Global’s announced listing of Tesla in the S&P 500. Musk is now positioned to challenge Zuck for the bronze seat of the world’s richest.

  • Tesla’s CEO just got $15 billion added to his name after the confirmed S&P 500 listing.
  • Musk is on track to overtake Mark Zuckerbeg, Facebook CEO, as the third richest in the world.
  • As per the Bloomberg Billionaires Index, Elon Musk is now worth $117 billion after the S&P 500 announcement on Monday.
  • Tesla will be officially added to the list of S&P 500 components on December 21, 2020.

Elon Musk is now worth $15 billion more after S&P Global’s announcement last Monday of Tesla Inc.’s inclusion into its S&P 500 index. Musk is now closing in on Facebook Founder Mark Zuckerberg’s position as the third-richest in the world.

Tesla share price was $408.09 at market close on Monday. During the extended trading hours, however, the share price skyrocketed by 14% courtesy of the inclusion’s announcement.

According to the Bloomberg Billionaires Index, the Tesla and SpaceX CEO gained $90 billion in the year thus far; the biggest gain in 2020 amongst 500 listed billionaires. Musk’s current net worth is estimated at $117.5 billion, which should put him ahead of Zuck.

Note that Mark Zuckerberg has an estimated $106-billion net worth.

Musk’s $400-billion clean energy and electric vehicle company, Tesla, is set to be listed in S&P 500 on December 21 and join the ranks of Amazon, Apple, Facebook and Microsoft as one of the 10 most valuable components of the index.

Tesla met the market-capitalization-weighted index’s requirements, which lists that components must be US-based, be at least $8.2-billion in market capitalization, posted four profitable quarters in succession, have high liquidity and half of the shares are publicly available.

S&P Global failed to disclose which company will lose its spot in the index in favor of Tesla; specifying a separate release regarding this detail.

On a separate note, Musk revealed that he was tested for Covid-19 four times on the same day during the weekend while questioning the reliability of the test due to mixed results.

The Muskette
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