Tesla Inc.’s stock hit yet another all-time high of $695 USD per share on Friday ahead of its addition to the S&P 500 index, and according to Yahoo Finance, so did CEO Elon Musk’s net worth.
$TSLA's entry in the S&P 500 is “a feather in the cap for Musk and Tesla,” @Wedbush Managing Director @DivesTech says. “It’s really about profitability because that’s what it says. … It just shows how far we’ve come the last few years, especially in the EV market.” pic.twitter.com/XCZ33uQQYP
— Yahoo Finance (@YahooFinance) December 18, 2020
Musk bagged another $9 billion USD thanks to a jump in share price brought on by investors’ anticipation of his company replacing the Apartment Investment and Management Co. in the S&P 500 index on Monday, bringing the CEO’s total net worth up to $167.3 billion USD.
Musk’s net worth now exceeds that of every other person on the planet except Amazon.com Inc. founder Jeff Bezos, who is perched comfortably atop a $187.3 billion USD throne. Impressively, the Tesla CEO amassed $139.7 billion USD of his fortune in 2020 alone.
Tesla has had a stellar year so far, breaking record after record for stock price, posting a 700%+ growth in share price year-to-date, and achieving a market capitalization of over $600 billion USD — the largest of any automaker.
The electric vehicle (EV) pioneer is also poised to end the year strong, earning an impending addition to the S&P 500 index with its full float-adjusted market capitalization.
Tesla and Elon Musk have had a year that will go down in history, and their success is giving rise to even more innovators and entrepreneurs in the industry. With 15+ new EV companies going public or announcing listings in 2020 so far, the EV revolution is certainly in full throttle.
