(PoliticalLookout.com)- Tesla CEO Elon Musk is set to overtake Facebook CEO Mark Zuckerberg as the third richest man in the world. The news comes after Tesla was accepted into the S&P 500, with stocks closing at $408.09 at 6 pm during after-hour trading.
It means that Musk’s net worth skyrocketed to $117.5 billion, putting him ahead of Facebook CEO Zuckerberg. However, Tesla will not officially join the S&P 500 until December 21. When it does, it will be the biggest company to ever be added to the index.
Owing to the fact that Tesla is such a big company, the S&P Down Jones Indices is reportedly “seeking feedback through a consultation to the investment community to determine if Tesla should be added all at once on the rebalance effective data or in two separate tranches ending on the rebalance effective data.”
Tesla is now a bigger company than Toyota, Disney, and Coca Cola, and even has a market cap of almost $387 billion.
Musk has had a great week, too. Last Sunday, the eccentric CEO’s space agency SpaceX launched four astronauts on a new privately built spacecraft. It was launched from the International Space Station in the United States. It was only the second time that the private space agency had sent astronauts into space, making it a direct competitor to the government’s NASA.
Falcon 9 and Crew Dragon vertical on Launch Complex 39A pic.twitter.com/hBVUHWv3Ab
— SpaceX (@SpaceX) November 10, 2020
The crew is go for launch pic.twitter.com/HqJGin0gg7
— SpaceX (@SpaceX) November 16, 2020
The Falcon rocket and Dragon capsule launched from the Kennedy Space Center at 19:27 local time.
Musk’s huge fortune is driven by his 20% share in Tesla, which has risen in value fivefold this year alone. Musk is expected to make tens of billions of dollars under a pay scheme connected to share price is he is able to build Tesla into a $650 billion company by the year 2028.
At this trajectory, it looks like he could do it…