Quantcast

What the Zuck? Elon Musk Passes Facebook’s CEO to Become the World’s Third-Richest Person

See you in the rear view, Mark.

NOVEMBER 17th 2020: Tesla, Inc. will join the S&P 500 stock market index effective prior to trading on Monday, December 21, 2020. - File Photo by: zz/Wil R/STAR MAX/IPx 2020 9/25/20 Elon Musk is seen on September 25, 2020 in Los Angeles, CA. AP Images

Not even 2020 can stop Elon Musk’s meteoric rise. The 49-year-old just became the world’s third-richest person thanks to his first baby Tesla. The electric-vehicle pioneer, which Musk founded in 2003, is now the world’s most valuable carmaker with a market cap of nearly $387 billion, and it’s just been named for inclusion in the S&P 500 Index.

On Monday, S&P Global announced Tesla will be joining the stock market index effective December 21, replacing an undisclosed S&P 500 company. The news prompted Tesla stock to surge as much as 15 percent on Monday in after-hours trading. On Tuesday, shares ended up 8.2 percent, boosting Musk’s net worth by $7.6 billion. His eye-popping total fortune is now $109.7 billion, good for third place on the Bloomberg Billionaires Index.

This week’s spike pushed Musk past Facebook founder and tech wunderkind Mark Zuckerberg, who is currently sitting fourth at $104 billion. The Tesla CEO is also within a few billion of top dogs Bill Gates and Jeff Bezos, who are worth $129 billion and $185 billion, respectively.

NOVEMBER 17th 2020: Tesla, Inc. will join the S&P 500 stock market index effective prior to trading on Monday, December 21, 2020. - File Photo by: zz/STRF/STAR MAX/IPx 2020 11/1/20 Businesses and retail stores in Greenburgh, Westchester County, New York on November 1, 2020 as certain restrictions are eased as part of the Phase 4 Reopening in New York State during the worldwide coronavirus pandemic. While many of the larger corporations have managed to navigate the financial storm caused by the pandemic, other retailers have struggled to stay in business. Here, a Tesla Automobile Dealership under construction. (Greenburgh, NY)

AP

Of course, this is simply the cherry atop of Musk’s phenomenal year. His wealth climbed an epic $82.2 billion in 2020, which is the biggest gain on the ranking of the world’s 500 richest people, according to Bloomberg. Furthermore, all of his companies reached major milestones. Tesla recently reported its largest quarterly profit to date with $874 million USD in earnings in the third quarter. SpaceX just successfully rocketed four astronauts into space. The Boring Company has started testing hyperloops in Las Vegas and California. Neuralink implanted a coin-sized computer chip into a pig’s brain. Oh, and Musk also had a baby boy, X Æ A-12, with singer Grimes.

It’s not all smooth sailing, though. On Saturday, the Twitter-happy entrepreneur tweeted that he “most likely” had a moderate case of Covid-19 and has had symptoms of “a minor cold.” However, by Sunday he tweeted he had no symptoms. Nice try, 2020.

Read More On:

More News