Elon Musk's Wealth Tops $500 Billion for First Time
Elon Musk's wealth has reached a new milestone. The entrepreneur's fortune was recently estimated at $500 billion, making him the first person to achieve this feat. His wealth primarily comes from his stakes in Tesla and SpaceX.
Musk's companies include Tesla, SpaceX, X, xAI, and Neuralink. Tesla's market capitalization has rebounded, now standing at over $1.5 trillion. The company's stock has risen from an April low of around $460 to nearly $488, its record high from late December. Despite this, Tesla shareholders face uncertainty regarding Musk's stock option package of up to 423 million shares, which is still under approval. Additionally, Tesla is experiencing a sales decline for the second consecutive year, which may impact investor sentiment.
Estimating Musk's wealth can be challenging due to the lack of public listings for his companies. Forbes later adjusted his fortune to $499.1 billion. Bloomberg calculated it at $470 billion on Wednesday. Musk is currently around $150 billion ahead of Oracle co-founder Larry Ellison. He first broke the $400 billion mark in both wealth rankings in December 2020.
Elon Musk's wealth has reached unprecedented heights, with his fortune estimated at $500 billion. His companies, particularly Tesla, continue to make significant strides, but shareholders await clarity on Musk's stock option package and monitor the company's sales performance.
