Tesla and SpaceX head Elon Musk is now the world’s third-richest person. With a wealth of nearly $110 billion, he overtook Facebook CEO Mark Zuckerberg for the spot after skyrocketing Tesla stocks added $7.6 billion to Musk’s coffers over November 16 and 17, according to the Bloomberg Billionaires Index.
Elon Musk, who is the highest-paid executive in the world on paper, takes no salary from the company but he owns a majority of its equity. He has a 12-level compensation package, which earned him about $600 million in 2019 alone.
— FinancialXpress (@FinancialXpress) November 19, 2020
The 15 percent stock boost for Tesla came as it was named for inclusion into the S&P 500 Index on November 16.
Based on its market value, the electric car maker would be one of the top 10 companies in the benchmark index upon entry. S&P Dow Jones Indices said Tesla would be one of the largest companies added to the S&P 500 in the past decade. The company said it was considering adding Tesla in two stages on December 14 and 21.
SpaceX on the other hand successfully launched four astronauts into space for NASA on November 15 – these astronauts reached the International Space Station (ISS) on November 17.
Musk has added a total of $82.2 billion to his wealth in 2020 alone. He is the biggest gainer among the world’s 500 richest people, the report said.
Amazon’s Jeff Bezos is the richest person in the world with a total net worth of $184 billion, followed by Warren Buffet.