Elon Musk Set To Become World¡¯s Third Richest Man, Just Behind Mark Zuckerberg

Elon Musk has had quite a crazy week. First was him testing positive for the novel coronavirus.

Then was the delay of SpaceX's first commercial space flight taking three NASA astronauts and a JAXA astronaut to the ISS, and eventually having a successful launch on Monday.

Reuters

And now, Elon has gotten what he was desperately waiting for. Elon¡¯s popular electric car company -- Tesla has been named to be included in the prestigious S&P 500.

These announcements have boosted Elon Musk¡¯s valuation adding over $15 billion in extended trading, bringing him closer to the position of being the third richest person in the world and defeating Mark Zuckerberg who currently holds the third spot.

According to the Bloomberg Billionaires Index, Tesla¡¯s stock closed at $408.09 spiked for 14 percent, while also spiking Elon¡¯s net worth to $117.5 billion. In fact, Musk has seen a jump of $90 billion this year.

The electric car company is scheduled to enter the S&P 500 next month, on December 21, 2020. Tesla had been behind this achievement for a while and once it even got really close (in September), however, since the stock failed to make the cut in the index¡¯s quarterly rebalancing, he lost the eligibility. But this time he¡¯s done it. Tesla is expected to be the biggest new inclusion in S&P 500¡¯s history.

Reuters

This also comes at a time when Tesla has decided to stop manufacturing the cheapest Tesla Model 3 variant which is priced at $35,000. The listing for the car has disappeared from the company¡¯s website.

Reports indicate that it would be replaced by a fresher 2021 variant of Model 3, however, pricing for this remains unknown. According to Electrek, sources have indicated that these new models would also start at the same price of $35,000 for the standard range variant.