Thu, 02 Oct 2025

Thu, 02 Oct 2025 Musk becomes world's first half-trillionaire

The rise has been driven by a sharp increase in the value of his electric car company Tesla.
Elon Musk has become the first person in history to reach a net worth of over $500 billion, according to Forbes' billionaires index. His wealth has been boosted by the rising value of Tesla and other companies he owns, including SpaceX and xAI. Musk's net worth briefly surpassed $500.1 billion on Wednesday afternoon before dipping slightly to just over $499 billion later in the day. The milestone further solidifies Musk's position as the world's richest person, with Oracle founder Larry Ellison ranking second with a net worth of around $350.7 billion. Musk's wealth is largely tied to his 12% stake in Tesla, whose shares have risen by over 20% this year and are currently up more than 3.3% from the previous day's close. The company's shares have gained ground as investors welcome Musk's focus on his business ventures rather than politics. In recent months, Musk has been under fire for his work with the Trump administration and his comments on issues like immigration and diversity in the workplace.
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