Elon Musk’s net worth surpasses $150B amid Tesla rally

Elon Musk’s fortune has now surpassed the $150 billion mark.

The Tesla and SpaceX CEO, already the world’s second-richest man, reached the milestone Monday after Tesla shares surged more than 5 percent to a new, all-time high.

The electric automaker’s stock has been on a tear since mid-November when the S&P 500 index announced that it would include Tesla in December. Shares of Tesla are up 54 percent since Nov. 16.

With his $151.1 billion net worth, Elon Musk is now more than $20 billion ahead of No. 3 Bill Gates, who has a $129 billion fortune, and $45 billion ahead of Facebook CEO Mark Zuckerberg, who Musk originally passed the day after the S&P’s announcement.

After adding more than $120 billion to his net worth in 2020 alone, Musk now plays second fiddle only to Jeff Bezos, who is the richest man on earth with a net worth pegged at $185 billion.

Musk’s Tesla 170.4 million Tesla shares are worth more than $108 billion, with the rest of his fortune coming from additional Tesla options as well as his holdings in rocket company SpaceX and drilling company Boring, according to data from Bloomberg.

The upward trajectory could continue ahead of Tesla’s Dec. 21 debut in the benchmark index because big investment funds that duplicate the S&P’s holdings must buy Tesla shares to accurately track its performance.

Shares of Tesla were trading up 59 percent Monday afternoon, at $634.24.