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Elon Musk becomes the world’s third richest person as Tesla shares rose…..

Elon Musk, the chief executive of electric car company Tesla, overtake Facebook’s Mark Zuckerberg to become the world’s third-richest person after Tesla’s shares jumped 13% following its selection to join the S&P 500 index of leading US companies.

That places Musk, 49, third on the league table of the world’s richest people in front of Zuckerberg, 36, with $106bn. The index shows Musk in fourth place with $102bn but it does not yet include the 12% surge that took place in extended trading after the market closed. Musk, who owns 20% of Tesla’s shares and founded rocket company SpaceX, has experienced an increase of about $90bn in his fortune so far this year.

The only people in the world richer than Musk are Amazon founder Jeff Bezos with a $184bn fortune and Microsoft’s principal founder Bill Gates with $129bn. Gates has given more than $50bn to help fight diseases and tackle poverty.

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