How Elon Musk added $12 billion to his net worth to become third richest man

Tesla CEO Elon Musk has added $12 billion to his net worth after Tesla was included in S&P500 index, making him the third richest man in the world.

Elon Musk became the third richest man in the world after he added a whooping $12 billion to his net worth according to Bloomberg.

This astronomical increase came after his electric car company, Tesla, was added to the S&P500 index. This index is an exclusive ‘big boys’ club for the biggest 500 companies on the US stock exchange.

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Tesla’s stock, TSLA, rose by 15% on Monday, 17th November 2020 after trading day. It was trading at $460 the next day before trading began. Now, Elon Musk is set to overtake Mark Zuckerberg; who occupies the position of third on the richest men’s list.

Elon Musk has risen steadily through the ranks of billionaires as his fortune has grown with the consistent success of Tesla. The billionaire had welcomed a son with singer, Grimes in 2020, makin him the father of six children.