Musk adds $9 billion to fortune as Tesla set to join S&P 500

Musk adds $9 billion to fortune as Tesla set to join S&P 500

Elon Musk’s personal fortune hit a brand new high Fri as Tesla INC. prepares to form its debut within the S&P five hundred Index.

A late jump in Tesla’s share value pushed Musk’s web price up nearly $9 billion to $167.3 billion, in keeping with the Bloomberg Billionaires Index. The forty-nine-year-old businessperson has an extra $139.7 billion this year, an associate quantity that exceeds the overall web price of anyone else in the world apart from Amazon.com Inc. founder Jeff Bezos. Bezos, for now, A-one the wealth index with $187.3 billion.

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Tesla shares have soared 731% this year, closing at a record $695 on Fri. last, they’ve gained on expectations that inclusion within the S&P five hundred would spur a brand new spherical of shopping for. The stock has climbed seventieth since inclusion was proclaimed in November.

Musk is that the most distinguished during a vary of electric-vehicle entrepreneurs WHO have seen their fortunes jump this year, goading a raft of recent entrants. a minimum of fifteen electrical vehicle corporations are taken public or proclaimed listings in 2020.

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