Elon Musk once again made a fortune when Tesla shares on Monday jumped up to 6%, approaching a market value of $ 500 billion.
The surge indirectly increased profits by 27% since last week following the announcement of the firm's participation in the S&P 500 Index.
Interestingly, Musk, who just overturned Mark Zuckerberg's fortune last week, has now snatched Bill Gates' position as the world's second-richest individual with a net worth of $ 128 billion.
The Bloomberg Billionaires Index records show that Musk's net worth increased to $ 100.3 billion in just this year alone.
So far, 2020 has been a lucky year for Tesla with a surge of around 500%, making it the most valuable vehicle manufacturer in the world despite its lower production rates than Toyota, Volkswagen or General Motors.
Tesla is now worth $ 491 billion, becoming the seventh most valuable firm on Wall Street, leaving Walmart and Visa, a few sites behind Berkshire Hathaway.
It is not impossible for Musk to be showered with dollars as his three-quarter net profit includes Tesla shares which are four times more valuable than investments in SpaceX.
