In 2 Hours, Elon Musk Earns Rs 1.1 Lakh Cr; Beats Zuckerberg, Becomes World’s 3rd Richest Person!

Tesla and SpaceX founder Elon Musk has just become World’s 3rd richest person, by beating Facebook founder Mark Zuckerberg.

And this happening within 120 minutes, as he earned $15 billion or Rs 1.1 lakh crore.

What exactly happened here?

Elon Musk Makes $15 Billion In 2 Hours

After news came in that Tesla will be included in the prestigious S&P 500 index, the share prices of Tesla zoomed ahead.

Such was the velocity, that Tesla shares 14% in two hours, and helped Elon Musk add $15 billion to his treasure.

And this way, within 2 hours, Elon Musk beat Mark Zuckerberg and became World’s 3rd richest person.

After Tesla shares closed at $408.09, which is 14% higher, Elon Musk’s net worth stood at $117.9 billion, thereby making him world’s 3rd richest person.

Infact, Elon Musk’s wealth has jumped by $90 billion in the last 12 months, which is the highest jump in wealth for any billionaire, anywhere in the world.

After testing for coronavirus, it has been an eventful 24 hours for Elon Musk, as his space tech company SpaceX created history by launching 4 astronauts into space, in collaboration with NASA.

What Is S&P 500 Index?

S&P or Standard & Poor’s 500 Index is one of the most prestigious market-capitalization-weighted index, wherein the top 500 American publicly traded companies are listed.

After news of Tesla being included in the S&P 500 index came in, the share prices took a 14% surge, which happened as investors rushed to buy the stocks.

The official inclusion of Tesla into S&P 500 index will take place on December 21st, and we are expecting that Tesla shares can rise further, as the markets open tomorrow.

We will keep you updated, as more details come in.