Musk contributes $ 9 billion to fortunes while Tesla plans to join S&P 500

By: Bloomberg |

19 December 2020 10:52:57 am

Elon MuskElon Musk. (Image source: Bloomberg)

Elon Musk’s personal fortunes on Friday hit a new high and Tesla Inc. preparing for the first time in the S&P 500 Index.

With a late jump in the price of Tesla shares, Musk’s value pushed up nearly $ 9 billion to $ 167.3 billion, according to the Bloomberg Billionaires Index. The 49-year-old entrepreneur has contributed $ 139.7 billion this year, a sum that is more than the total net worth of anyone else on the planet except the founder of Inc., Jeff Bezos. Bezos, for now, tops the wealth index with $ 187.3 billion.

Tesla shares have risen 731% this year, closing at $ 695 higher than Friday. Recently, they have been expecting the inclusion of the S&P 500 to trigger a new round of buying. The stock has risen 70% since inclusion was announced in November.

Musk is the most prominent in a range of electric vehicle entrepreneurs who have seen their fortunes leap this year, inspiring a number of new entrants. At least 15 electric vehicle companies have been added to public lists or announced in 2020.

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