Elon Musk set to pass Zuckerberg as third richest person in world as Tesla shares soar and wealth swells by $15B
ELON Musk may surpass Mark Zuckerberg as the third richest person in world as Tesla shares soar and his wealth surges by $15billion.
On Monday, the 49-year-old businessman's net worth soared to around $117.5billion after Tesla's stock exchange success and Musk was listed as the fourth wealthiest person behind Zuckerberg.
Tesla was selected to join the S&P 500 of leading companies in the United States on December 21, prompting a 13 percent jump in shares which had already soared by almost 500 percent so far this year.
Musk's net worth to over $117billion, reports say, and he may now surpass Zuckerberg on the The Bloomberg Billionaires Index.
During after-hour trading on Monday, Tesla’s value soared with stocks closing at $408.09 and increasing about 14 percent by 6pm.
On Tuesday, Musk ($102billion) came after Zuckerberg ($106billion) on the Index, who follows Microsoft’s Bill Gates ($129billion), with Amazon’s Jeff Bezos listed as the richest person with $184billion.
But Musk could soon surpass Zuckerberg on the list with the $15billion addition to his wallet after his fortune surged to $90billion this year.
But the S&P noted that Tesla's inclusion on the S&P list won't be easy "due to the large size of the addition," reported CNBC.
"S&P Dow Jones Indices is seeking feedback through a consultation to the investment community to determine if Tesla should be added all at once on the rebalance effective date or in two separate tranches ending on the rebalance effective date," it said.
Back in September, Tesla met the criteria to be included but the deciding committee said it didn't make the cut.
The S&P is a representation of the market, which is reshuffled to better represent it – and this time around Tesla was successful.
At this point, it isn't clear which of the 500 companies it will replace.
Tesla is now valued more than business juggernauts like Disney, Toyota and Coca-Cola with a whopping market cap of almost $387billion.
CNN reported that S&P 500 companies must be US-based, have a market capitalization of at least $8.2billion, be liquid, have half of itsavailable to the public and report four straight quarters of profit.
Tesla marked its fifth consecutive quarter of profit with revenue of $8.77billion during the third-quarter.
While the pandemic raged, Musk's rocket company SpaceX sent four astronauts into space during his wildly successful year.
The four-person craft took off from Florida's Kennedy Space Center on Sunday night and docked on the ISS after a 27-hour journey.
SpaceX founder Musk could not attend liftoff due to a "moderate" case of Covid-19.
But his tweets two days before that "something extremely bogus" was going on with coronavirus testing earned him the moniker "Space Karen."
"Was tested for covid four times today. Two tests came back negative, two came back positive," he said. "Same machine, same test, same nurse. Rapid antigen test from BD."
Twitter user Emma Bell inspired several Musk memes with her reply to his complaints.
“Rapid antigen tests trade sensitivity for speed. They return a result in <30 minutes, but can only detect COVID-19 when you’re absolutely riddled with it,” she wrote.
“What’s bogus is that Space Karen didn’t read up on the test before complaining to his millions of followers.”
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