Elon Musk's Wealth Hits $500 Billion Milestone
Elon Musk's wealth has reached an unprecedented milestone. On Wednesday, the Tesla CEO's net worth briefly touched $500 billion, making him the first person to achieve this feat. This comes amidst a surge in Tesla stock following Musk's personal investment and the company's record-breaking stock prices.
Musk's fortune has been climbing steadily, boosted by the remarkable performance of Tesla stock. In mid-September, he invested about $1 billion through a trust, further driving the stock's upward trajectory. This investment, coupled with Tesla's all-time peak, has significantly contributed to Musk's astronomical net worth.
As of Wednesday, Musk's wealth stood at $499.1 billion at the close of trading. Earlier in the day, it had briefly reached the $500 billion mark. This remarkable figure places him at the top of Forbes' Real-Time Billionaires list, followed by Larry Ellison, Mark Zuckerberg, and Jeff Bezos. The Tesla board has also offered Musk a pay package worth nearly $1 trillion, pending approval.
Musk's net worth has been volatile, with brief fluctuations. On September 10, Larry Ellison surpassed Musk's net worth for a short time when Oracle's stock soared. However, as of November 1, Musk remains the richest entrepreneur, with an estimated net worth around $500 billion, about $150 billion more than Ellison.
