Tesla chief's condition
Elon Musk's fortune rose by $7.6bn to more than $150bn on Friday, putting him back in second place on the list of the world's richest billionaires. Tesla shares hit an all-time high ahead of next week's inclusion in the S&P 500.
The fortune of Tesla founder and CEO Elon Musk increased by $7.6bn on Friday and was valued at $153.5bn at the close of trading, according to Forbes Real-Time rankings, which are updated in real time.
Musk managed to get back to number two on the list of the world's richest billionaires, beating Louis Vuitton owner Bernard Arnault. The Tesla founder first came in second place in early December. But just one day later, analysts at JPMorgan called Tesla stock overvalued, after which the stock plummeted and Musk's fortune dropped by nearly $9 billion and he slipped to third place. Amazon CEO Jeff Bezos, whose fortune is estimated at $186.7bn, still tops the list of the world's richest people.
Elon Musk's fortune increased as Tesla shares rose ahead of the company's inclusion in the S&P 500 index. In the last hour of trading on Friday, the company's securities first collapsed by more than 4%, and then rose sharply by 6% (by the close of previous trading) and reached a historic high of $695. As a result, the market capitalization of the automaker amounted to $658 billion, writes Financial Times.
Tesla will be included in the S&P 500 index on Monday, December 21. The automaker will become the sixth largest company in the S P 500 after Apple, Microsoft, Amazon, Alphabet (the parent company of Google) and Facebook, writes FT. Tesla shares have risen 70% since November and have risen 730% in total since the start of 2020.