Elon Musk Becomes World's Richest Person With $500 Billion Fortune
Elon Musk has reached a new milestone in his wealth, surpassing the $500 billion mark. This makes him the world's richest person, far ahead of the second-placed Larry Ellison.
Musk's fortune grew by almost 4% on October 1, 2023, primarily due to a rise in Tesla stock. His 12% stake in the electric car manufacturer is now valued at $191 billion. This significant increase pushed his net worth to $500 billion for the first time.
Musk's wealth has seen a remarkable growth over the years. In August 2020, he became the fifth person to reach a net worth of $100 billion. Five years ago, in March 2020, his net worth was estimated at $24.6 billion, indicating a substantial increase of over $475 billion in just three years.
The majority of Musk's wealth comes from his stakes in Tesla and SpaceX. He owns around 53% of AI startup xAI Holdings, valued at $60 billion, and approximately 42% of SpaceX, valued at $168 billion. These investments have significantly contributed to his astronomical wealth.
With a net worth of $500 billion, Elon Musk is halfway to becoming the world's first trillionaire. His wealth, primarily from Tesla and SpaceX, continues to grow, reflecting his influence and success in the tech and automotive industries.
