It was another good week for Tesla founder and Chief Executive officer Elon Musk, whose fortune gained about $8.95 billion in value, as stock holdings of his electric car-maker recorded impressive gains ahead of being added to the S&P 500 Index.
Elon Musk is now worth $167 billion and within striking distance of the present world’s richest man, Jeff Bezos. In February this year, Elon Musk had bought $1.5 billion in bitcoin.
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Tesla Inc. CEO, Elon Musk, the world’s celebrated tech entrepreneur, has surely turned fabulously wealthy this year. Taking into consideration that despite the prevailing COVID-19 pandemic, he gained about $140 billion – a feat not seen in the history of humanity.
Tesla stock price hit a lifetime high, in anticipation of the leading car company’s addition to the S&P 500 index in the coming week.
Electric-car maker, Tesla Inc’s share value rose as high as $695 at the close of its trading session. Tesla became on Monday, the most valuable company to ever be added to Wall Street’s main benchmark index.
Now worth $659 billion, Tesla will increase the concentration of heavyweight companies within the S&P 500
Elon is also the CEO of Space Exploration Technologies, a rocket manufacturer tapped by NASA to resupply the space station.
His company, Tesla, founded in 2003, is a California-based company that sells electric vehicles.
Today, Tesla builds not only all-electric vehicles but also infinitely scalable clean energy generation and storage products. Tesla believes the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better.
His wealth gain is largely attributed to Tesla, the electric car automaker, which has gained 800% in 2020 and has become by far the world’s most valuable automaker in the world, despite it producing far less than Volkswagen, Toyota, or General Motors.