Finance | November 17, 2020 11:21 am

Elon Musk Is Now the World’s Third-Richest Person

Thanks to Tesla's imminent entry on the S&P 500, Musk's personal wealth just rose $15 billion

Elon Musk now world's third-richest man
Elon Musk's wealth has increased $90 billion in a year
Fabian Sommer/picture alliance via Getty Images

Strange week for anyone but Elon Musk.

The Crew Dragon craft from Musk’s private space transportation company SpaceX successfully provided history’s first “commercial launch,” ferrying four astronauts (three from NASA and one from JAXA, Japan’s space agency) to the International Space Station.

But Musk wasn’t able to attend the rocket’s initial launch because of a positive coronavirus test, which also earned him the derisive nickname “Space Karen” (months after Musk had dismissed the pandemic as “dumb”).

Meanwhile, Musk’s other, better-known company Tesla just landed on the S&P 500, inflating his wealth by $15 billion and making him, for now, the world’s third-richest person, overtaking Facebook CEO/founder Mark Zuckerberg.

Using information culled from the Bloomberg Billionaires Index, Musk’s net worth currently rests just under $118 billion, with $90 billion a gain from just this year alone.

As Business Insider explains, joining the S&P 500 requires that a company “must be based in the U.S., have a market cap of at least $8.2 billion, be highly liquid, have at least half of their shares available to the public, and post four successive profitable quarters.”

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