While battling what he described as a “minor case” of COVID-19, Elon Musk is in the midst of an extremely successful week. Sunday, he saw the launch of his SpaceX-Nasa rocket and crew and Monday it was announced that Tesla is joining the S&P 500 in December.

Tesla shares have been on a steady climb all year long, rising more than 400% on the year. The electric car maker will be added on Monday, Dec. 21, to coincide with the December quarterly rebalancing effective date. 

S&P noted in their announcement that “based on recent market capitalization figures, 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.”

The news boosted Tesla shares on Monday 14% in anticipation of the $51 billion trade.

With a stock market value of over $400 billion, Tesla will be one of the most valuable companies ever added to the widely followed stock market index. The inclusion of Tesla means the S&P will be selling about $51 billion of shares of companies currently in the S&P index to purchase the shares of Tesla. 

In a separate press release, S&P asked for feedback from investors about whether to include Tesla all at once or in two tranches, with the first added one week earlier due to the size of the Tesla addition.

It’s interesting to note that Tesla has become the most valuable auto company in the world despite producing just a fraction of the vehicles their rivals do.

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