Elon Musk adds $9 billion to fortune as Tesla set to join S&P 50

Must Read

Elon Musk personal fortune hit a new high on Friday as Tesla Inc. prepares to make its debut in the S&P 500 Index.

A late jump in Tesla’s share price pushed Musk’s net worth up almost $9 billion to $167.3 billion, according to the Bloomberg Billionaires Index. The 49-year-old entrepreneurs have added $139.7 billion this year, an amount that exceeds; the total net worth of anyone else on the planet other than Amazon.com Inc. founder Jeff Bezos. Bezos, for now, tops the wealth index with $187.3 billion.

Tesla shares have soared 731% this year, closing at a record $693 on Friday. Most recently, they have gained on expectations that inclusion in the S&P 500 would spur; a new round of buying. The stock has climbed 70% since inclusion was announced in November.

Elon Musk is the most prominent in a range of electric-vehicle entrepreneurs who have seen their fortunes jump this year spurring a raft of new entrants. At least 15 electric vehicle companies have been taken public or announced listings in 2020.

Latest News

How to Pay NJ Traffic ticket using NJMCDirect Portal?

NJMC is based in New Jersey, where the legislation committee in New Jersey owns the portal. NJMCDirect stands for...