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Elon Musk set to be world’s third-richest person as Tesla shares soar

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November 17, 2020 at 12:13PM

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Entrepreneur to overtake Facebook’s Mark Zuckerberg as electric carmaker selected for S&P 500

Elon Musk, the maverick chief executive of electric car company Tesla, is poised to overtake Facebook’s Mark Zuckerberg to become the world’s third-richest person after Tesla’s shares jumped 13% following its selection to join the S&P 500 index of leading US companies.

The latest surge in the Tesla share price, which had already risen by almost 500% so far this year, is estimated to have increased Musk’s fortune by about $15bn (£11.4bn) to about $117.5bn.

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