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After a turbulent week, the personal fortune of tech entrepreneur Elon Musk has soared to over $ 15 billion (£ 11.3 billion).
On Monday, it was announced that its electric car maker, Tesla, was included in the S&P 500, a stock index that includes the shares of the 500 largest financial companies in the United States.
This comes after his company “SpaceX”, specializing in aeronautics and aerospace, sent four astronauts into space.
Musk is preparing to become the third richest man in the world, knowing that medical tests have come back positive for the Covid-19 epidemic.
Tesla shares rose 14% in New York City following the announcement of their stock exchange listing.
And given the fact that Musk owns 20% of Tesla’s shares, his net worth has jumped to $ 117.5 billion, according to the Bloomberg Billionaire Index.
Musk’s fortune soared to $ 90 billion this year as Tesla shares continued to rise.
He tweeted over the weekend, saying he was “very likely” to have a mild case of Covid-19 and show symptoms of a “mild cold”.
It comes a day before astronauts were sent to the International Space Station in a rocket built by Mask’s SpaceX subsidiary.
Extremely successful inclusion
Tesla is expected to be listed on the S&P 500 stock market on December 21 after months of speculation and a setback in September after failing to list on said stock market.
The California-based company will be the largest new company to be listed on the U.S. stock market, noting that the company’s market value exceeds $ 400 billion.
The company’s listing on the stock exchange comes after recording profits for four consecutive quarters of the year, which is necessary for the company to be publicly traded. Tesla has recorded losses for most of its history.
The inclusion of Tesla in the S&P 500 allows investment funds that automatically track the index to invest in Tesla.
A spokesperson for Dow Jones Indexes said, “(Tesla) will be one of the biggest additions to importance and strength of the past decade and, therefore, one of the largest fundraising deals of the history of the S&P 500 indices will be concluded.
California electric car maker Tesla has become the world’s most valuable automaker despite producing a fraction of the cars for its biggest competitors, Toyota, Volkswagen and General Motors.
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