Thursday , December 9 2021

Elon Musk’s fortunes rise


After a turbulent week, tech entrepreneur Elon Musk raised his personal fortune by more than $ 15 billion (£ 11.3 billion).

It was reported Monday that its electric car maker Tesla was included in the S&P 500, a stock index that includes shares of the top 500 financial companies in the United States.

The “SpaceX” company, which specializes in aeronautics and aerospace, came after sending four astronauts into outer space.

Musk is preparing to become the third richest man in the world, knowing that medical tests have been positive for the Covid-19 epidemic.

Shares of Tesla rose 14 percent in New York City in the wake of stock market news.

And considering that Musk owns 20% of Tesla’s shares, its net worth rose $ 117.5 billion, according to the Bloomberg Billionaire Index.

Musk’s fortune rose $ 90 billion this year as Tesla’s shares continued to rise.

He tweeted over the weekend, saying it was “very likely” that he would have a mild case of Covid-19 and have symptoms of a “mild cold”.

This happens before the astronauts are sent to the International Space Station in a rocket built by the Mask Company, SpaceX.

Very successful inclusion

Tesla is expected to be listed on the S&P 500 on December 21 after months of speculation and a delay in September when it failed to be listed on the stock exchange.

The California-based company will be the largest new company listed on the U.S. stock exchange, and the company’s market value is estimated to be more than $ 400 billion.

If the company is listed on the stock exchange for four consecutive quarters of the year, it is necessary for the company to be listed on the stock exchange. Tesla has suffered losses for most of its history.

The inclusion of the Tesla S&P 500 in the index allows investment funds that automatically follow the index to invest in Tesla.

A spokesman for the Dow Jones Indices said, “(Tesla) will be one of the largest to add importance and strength in the last decade, and as a result, one of the largest financing agreements in the history of the S&P 500 indexes will be concluded.

The California-based electric car maker Tesla has become one of the most valuable car companies in the world, although for its biggest competitors, Toyota, Volkswagen and General Motors have produced part of the cars.

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