The richest person in the world, Elon Musk, completes a new milestone after his net worth hits new heights.
According to Forbes, Tesla boss Elon Musk on Wednesday, October 1, became the first person in the world with a net worth of $500 billion, completing his halfway point to becoming the world’s first trillionaire.
The SpaceX owner who became the first person ever with over $400 billion worth in December last year is now $150 billion ahead of Larry Ellison, who briefly became the richest person in the world last month after surpassing Musk.
The tech giant saw a major hike in his net worth after his EV (electric vehicle) company Tesla’s shares climbed by nearly 4% on Wednesday, adding $9.3 billion to his fortune.
Tesla’s stock prices have doubled since Musk left the White House and stepped back from his role in the Department of Government Efficiency (DOGE) and vowed to focus on his company. The market value of the EV company recently reached near to its highest point, making the xAI boss's 12% stake in the company worth approximately $191 billion.
Besides Tesla, his SpaceX has become a $400 billion company, making his estimated 42% stake worth $168 billion. He has also merged xAI with X (formerly Twitter), creating a new entity called xAI Holdings valued at $113 billion.
Musk owns about 53% of xAI Holdings, which is worth around $60 billion.
