Key Points
• Tesla CEO Elon Musk is the world’s second wealthiest person, with only Amazon founder Jeff Bezos ahead of him
• Musk has added nearly $140 billion ($139.7 bn) to his net worth so far in 2020
• If Tesla shares keep rising at this rate, then in terms of net worth, Musk will leave Bezos behind by March 2021
Tesla’s Debut in S&P 500
Tesla Inc. prepares to make its debut in the S&P 500 Index. Amidst this, on Friday, Musk’s wealth hit a record high on Friday.
Most recently, they’ve gained on expectations that inclusion in the S&P 500 would spur another new round of buying. The stock has climbed 70% since inclusion was announced in November.
Tesla Shares
Tesla shares have surged 731% in this year alone, closing at $695 on Friday. As per the Bloomberg Billionaires Index, a late jump in Tesla’s share price pushed Musk’s net worth up almost $9 billion to $167.3 billion.
Tesla’s share price graph saw a steep increase too.
Could Musk Dethrone Bezos?
Musk is relatively cash-poor with his possessions tied to his share in Tesla, SpaceX, and The Boring Company. Musk has repeatedly focused on the fact that he is no longer interested in owning physical assets such as owning a house.
If Tesla’s stock dips, Musk could easily be knocked out of of the world’s top richest people. However, if the stock keeps soaring like it has this year, it could lead to Musk dethroning Bezos to become the world’s richest man. Below is the math:
Musk is currently $20 billion behind Bezos. He has added $139.7bn to his net worth so far in 2020 or around $11.6 billion every month.
