19 December 2020 10:52:57 am
Elon 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 Amazon.com 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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