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| Tesla's prime market value is $ 500 billion |
Electric car maker Tesla's market value exceeded $ 500 billion for the first time, a five-fold increase since the start of the year.
Tesla became the first publicly traded American automaker with market capitalization of $ 100 billion in January.
The share price rose after the share price exceeded $ 527.48 a share and reached its lowest level in a year to date in March, while the share price rose in August.
Tesla's stock price helped CEO (Elon Musk) Elon Musk take second place on Bloomberg HNWC after it ranked 35th in January.
Musk's net worth exceeds $ 128 billion, which pushed him to surpass Microsoft founder Bill Gates. Jeff Bezos remains the richest man in the world.
Musk's net worth rose to more than $ 100 billion in 2020. This was the largest increase in the Bloomberg Wealth Index.
After announcing the stock's inclusion in the S&P 500 in December, the price rose last week.
Since Friday, the company's market value has increased by more than $ 52 billion, nearly half of Ford's market value.
The S&P 500 Index announced on November 16 that Tesla will officially join the index on December 21, making electric vehicle makers one of the largest, including Apple and Microsoft.
If Tesla joins the S&P 500, it will become one of the largest capitalization companies on the index.
The addition of Tesla to the S&P 500 is not only symbolic but also has real financial benefits once you join, as investors can buy shares.
If the stock price rises, investors will have to sell more shares to make room for Tesla's stock.
In October, the company reported its fifth consecutive quarterly profit after reporting $ 8.77 billion in revenue in the third quarter.
Earlier this month, the company also announced that it shipped 139,300 cars in the third quarter, a record number for carmakers.