- Elon Musk overtakes Zuckerberg to be world’s third-richest person
DETAILS
It’s been an eventful few days for Elon Musk. The billionaire tested positive for Covid-19, his rocket company launched four astronauts into space, and on Monday his electric carmaker Tesla Inc. was named for inclusion in the S&P 500 Index.
The last bit of news also means Musk, 49, became the world’s third-richest person, leapfrogging Mark Zuckerberg. Tesla surged as much as 15% on Monday in after-hours trading. On Tuesday, the shares ended up 8.2%, pushing his fortune $7.6 billion higher to $109.7 billion, according to the Bloomberg Billionaires Index. His wealth has jumped $82.2 billion this year, the biggest gain on the ranking of the world’s 500 richest people.
Musk passed Facebook Inc. co-founder Mark Zuckerberg Monday as shares of Tesla Inc. continued their unrelenting rally after undergoing a forward stock split. Musk is now worth $115.4 billion compared with $110.8 billion for Zuckerberg, according to the Bloomberg Billionaires Index.
Tesla will enter the S&P 500 on Dec. 21 following months of speculation and one temporary setback, when the stock failed to make the cut during the index’s quarterly rebalancing in early September. Tesla would be the biggest new entrant in the group’s history.
Musk, 49, has seen a meteoric rise in his wealth, with his net worth growing by $87.8 billion this year as Tesla shares surged almost 500%. Also helpful: an audacious pay package — the largest corporate pay deal ever struck between a chief executive officer and a board of directors — that could yield him more than $50 billion if all goals are met.
Also Monday, Jeff Bezos’s ex-wife MacKenzie Scott became the world’s richest woman, passing L’Oreal SA heiress Francoise Bettencourt Meyers. Scott, 50, who received a 4% stake in Amazon.com Inc. as part of her divorce from founder Bezos, is now worth $66.4 billion.
On Saturday, Musk tweeted that he “most likely” had a moderate case of Covid-19 and has had symptoms of “a minor cold.” Sunday he tweeted he had no symptoms. That same day, four astronauts were launched to the International Space Station in a vehicle built by Musk’s Space Exploration Technologies Corp.
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