Elon Musk Shatters Record, Becomes the World’s First $500 Billionaire
Elon Musk has achieved an unprecedented milestone, becoming the world’s first individual with a net worth of $500 billion. This half-trillion-dollar valuation, tracked by Forbes, solidifies his position as the world’s richest person, placing him nearly $150 billion ahead of the next wealthiest individual, Oracle co-founder Larry Ellison.
Key Drivers of the $500 Billion Fortune
Musk’s staggering wealth is primarily concentrated in his three major ventures:
1. Tesla
The Catalyst: The final push to $500 billion was fueled by a recent 4% jump in Tesla’s stock, which alone added over $9 billion to his net worth in a single day.
Stock Performance: Tesla’s shares have nearly doubled since April, when Musk announced a plan to dedicate more attention to the electric vehicle company.
Valuation: Musk’s 12% stake in Tesla is valued at approximately $191 billion, not including potential gains from massive stock options packages.
2. SpaceX
Massive Valuation: Musk’s private space exploration company, SpaceX, was recently valued at an estimated $400 billion in August, up from $350 billion late last year.
Stake Value: His large 42% stake in SpaceX is currently valued at an estimated $168 billion.
3. xAI Holding (X/Twitter)
AI and Social Media: Musk holds a controlling 53% stake in xAI Holding, the merged entity of his artificial intelligence startup xAI and the social media platform X (formerly Twitter).
Estimated Value: This combined entity is currently valued at roughly $60 billion.
The Fastest Climb to Half a Trillion
Musk’s journey to the $500 billion mark caps one of the most explosive periods of wealth accumulation in history.
If this trajectory continues, analysts suggest Musk could potentially become the world’s first trillionaire by the early 2030s. Despite the attention, Musk has historically downplayed the focus on his net worth, preferring to emphasize the progress of his companies.
Join Our Social Media Channels:
WhatsApp: NaijaEyes
Facebook: NaijaEyes
Twitter: NaijaEyes
Instagram: NaijaEyes
TikTok: NaijaEyes
READ THE LATEST ENTERTAINMENT NEWS
