Billionaire Elon Musk has become the third richest person in the world. The 49-year-old business mogul overtook Facebook CEO Mark Zuckerberg to occupy the seat of world's third-richest, as per Bloomberg Billionaires Index. As per the list, Musk is now worth $110 billion, after a rally in Tesla stocks added $7.61 billion to his value. He is behind Jeff Bezos and Bill Gates.
Tesla stocks rose 15 per cent over November 16 and 17 after the company was selected for inclusion in the S&P 500 Index on Monday. Investment funds will have to sell shares worth $51billion of companies already listed on S&P 500 to buys Tesla shares so that their portfolios correctly reflect the index.
The electric car manufacturer is set to become one of the top 10 companies in terms of market value upon entering the index. It will amount to 1 per cent of the index. The company will be added to S&P 500 - the biggest addition to the index in the last 10 years - in two stages on December 14 and 21.
Musk currently is the CEO of electric car manufacturer Tesla and space transport company SpaceX. Recently, his SpaceX launched the first operational commercial crew mission to International Space Station (ISS). In this mission, the Crew Dragon spacecraft of SpaceX carried four astronauts to the ISS where they will stay for the next 6 months. The mission, christened Crew-1, is the first in a series of missions to take astronauts to the space station for a six-month stay.
Hyperloop, another venture of Musk, successfully tested its hyperspeed transport pods with human passengers a few days a