Tesla CEO Elon Musk has officially crossed the $500 billion mark in wealth, making him the world’s richest person. This milestone marks a stunning $100 billion increase in his net worth over just one year, positioning Musk to soon become the first person in history to reach a $1 trillion fortune.
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Musk’s wealth stands at $500.1 billion
As of the latest data from Forbes’ Real Time Billionaires Tracker, Musk’s wealth stands at $500.1 billion, $150 billion more than the second-richest individual, Oracle co-founder Larry Ellison. The surge in Musk’s wealth is largely attributed to the rise in Tesla’s stock, which has gained over 14% this year. Tesla’s shares were up by 4% just last Wednesday, adding around $9.3 billion to Musk’s fortune.
Musk’s wealth is closely tied to Tesla, where he owns more than 12.4% of the company. He also benefits from his ventures into AI and space exploration. His AI startup, xAI, was valued at $75 billion in July, and his space company, SpaceX, is reportedly valued at $400 billion.
Musk’s increasing fortune is not just tied to Tesla. He also owns Twitter and continues to drive forward ambitious projects in AI, robotics, and space. As investor confidence grows and Musk intensifies his focus on Tesla’s AI innovations, his financial targets are expected to rise even higher in the near future.