After months of speculation, Dow
Jones Indices on Monday announced that Tesla will join the S&P 500 index on December 21 making Elon Musk the third richest man in the world.

According to Bloomberg
Billionaires Index, Elon Musk’s net value elevated to $117.5 billion after
his Tesla’s stock closed at $408.09 witnessing around 14% surge recorded at
6:20 pm with an approval by New York’s Wall Street.

Also Read: Tesla launches its own $250 tequila and it is already ‘out of stock’

The meteoric rise of the stocks
pushes Elon Musk, who owns 20%
shares in Tesla, to the slot of the third
richest man in the world overtaking Facebook’s CEO Mark Zukerberg.

This latest rise in the Tesla’s
share price, which had already augmented by almost 500% so far this year, as per
Bloomberg Billionaires, is believed to have increased Musk’s worth by about
$15 billion.

The only two people in the
world who are richer than Musk are Amazon founder Jeff Bezos with a market
value of $184 billion and Microsoft’s Prime founder Bill Gates with the market
worth of  $129 billion.

Also Read: Tesla sues Donald Trump administration over tariffs on Chinese imports

The Automobile Company that
has been in news from months is now eligible for S&P 500 index earlier
this year after booking four consecutive profitable quarters, reported CNN

Tesla now is the highest grossing
car company in the world, beating automobile leaders like Toyota, Volkswagen
and General Motors and despite much less production capacity, the company claims
to deliver up to 500,000 vehicles this year.

The week has been one of the
most eventful for the Billionaire as his rocket company, SpaceX, launched four astronauts in to the
International Space station in one of its space vehicles.