Elon Musk is now the world’s fourth-richest person after his tech company Tesla shares surged 11% on Monday, closing at a record high, a Bloomberg report said. Musk has surpassed the net worth of Mukesh Ambani, whose wealth last week was $80.6 billion after the addition of $22 billion this year. 

Musk’s net worth is now $84.8 billion after a boost of $7.8 billion. Tesla’s co-founder’s wealth is now short of $15 billion to surpass Mark Zuckerberg’s worth, who is on number three on the ranking of the world’s 500 richest people.

The SpaceX’s co-founder’s net worth has also surpassed French luxury tycoon Bernard Arnault, who is the wealthiest non-American on the Bloomberg Billionaires Index.

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Tesla shares are up by 339% this year, fueled by growing anticipation that the company will be included in the S&P 500 Index, the Bloomberg report said.

The SpaceX co-founder’s worth has added $57.2 billion this year, which is the second-biggest increase in 2020 after Amazon founder Jeff Bezos, who gained up to $73 billion. 

SpaceX, Musk’s Space Exploration technology company, is set to increase its equity valuation to $46 billion as the corporation is close to finalising a $2 billion deal in new funding, business website Bloomberg reported last week.