Technology wiz Elon Musk is on track to become the world's third-richest person.

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On Monday, Musk's electric automaker Tesla, Inc. was named for inclusion in the S&P 500 Index, sending shares soaring at around 14%.

ELON MUSK'S TESLA JOINING THE S&P 500

The company had already hit a yearly high in August and Tesla reported its fifth straight quarterly profit last month, jumping 105% from the same time in 2019.

Total revenues climbed 39% to $8.77 billion dollars, exceeding the expected $8.36 billion.

The company's admission to the S&P 500 will take place on Dec. 21.

Tesla founder Elon Musk. (Getty Images)

According to the Dow Jones Market Data Group, the 49-year-old's share in Tesla is worth $8.2 billion more than it was at Monday's market close — a total of $77.8 billion.

The gain would knock fellow billionaire and Facebook, Inc. CEO Mark Zuckerberg down the Bloomberg Billionaires Index. Musk's net worth rose to $117.5 billion, while Zuckerberg's has hovered at around $106 billion.

Amazon's Jeff Bezos is No. 1 on the list, with a staggering total net worth of $184 billion. Warren Buffett is second at $129 billion dollars. However, changes have not yet been made to the index.

Musk's wealth rose around $90 billion over the course of 2020, according to The Guardian.

He is Tesla's largest individual shareholder, closely followed by Oracle CEO Larry Ellison.

New Street Research managing partner Pierre Ferragu discusses his outlook for Tesla stock.Video

It's been an eventful couple of weeks for Musk.

Over the weekend, he tweeted that he had tested both positive and negative for the novel coronavirus — though with minor symptoms.

On Sunday, Musk's SpaceX-NASA venture successfully sent four astronauts aboard the SpaceX Crew Dragon Resilience to the International Space Station.

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It was the first regular crew rotation mission for NASA to utilize a commercial spacecraft.

Fox Business' Suzanne O'Halloran contributed to this report.

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https://www.foxbusiness.com/markets/elon-musk-to-become-3rd-richest-person

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