Musk’s net worth increases £11bn in a week following the launch of four astronauts using Space X technology.
Tesla has been accepted into the S&P 500, following a major week for the tech giant.
Earlier this week four astronauts were sent into space using SpaceX technology.
Companies like SpaceX have a major opportunity now that NASA outsources to aerospace companies.
Musk is expected to become the world’s third richest person after Tesla’s share price rose 14% in New York.
Musk’s net worth is now estimated to be $117.5bn, according to the Bloomberg Billionaires Index with his personal wealth rocketing a staggering $90bn this year.
Tesla is set to enter the S&P 500 on 21st of December a complete turnaround from the companies turbulent financial history.
The car firm has recorded five quarters of profit in a row, which is the criteria for entrance to the S&P index.
It will enter the index as the largest newcomer with a stock market value over $400bn.
The benefit of the S&P 500 is that investment funds that track the index automatically invest in companies on it.
“(Tesla) will be one of the largest weight additions to the S&P 500 in the last decade, and consequently will generate one of the largest funding trades in S&P 500 history,” a spokesman for S&P Dow Jones Indices said.
Tesla has consistently outperformed established car companies despite being a fraction of the size.