Elon Musk has reached an unprecedented financial milestone. According to Forbes’ real-time billionaires list, Musk’s personal wealth has surpassed $500 billion. This achievement makes him the first person in history to reach half a trillion dollars in wealth.
Musk is adding to his fortune
Next to Musk on the billionaire list is Oracle founder Larry Ellison, with a net worth of $350 billion. Last month, Oracle shares rose more than 40 percent, for a brief period, surpassing Musk. However, Musk currently holds the top spot.
Tesla is the leading name among Musk’s ventures. His artificial intelligence startup xAI and his space company SpaceX have also seen significant growth this year. Tesla shares have gained over 20 percent since the beginning of the year.
The company has previously faced difficult times due to declining sales, pressure from Chinese competitors, and Musk’s political rhetoric. However, as Musk distanced himself from political debate and refocused on the company, Tesla has recently seen a resurgence.
In September, Tesla Chairman Robyn Denholm emphasized that Musk was once again at the heart of the company. This statement piqued investor interest. Shortly thereafter, Musk announced that he had purchased approximately $1 billion worth of Tesla stock, a strong demonstration of his belief in the company.
Tesla is planning to expand beyond just being an automaker; it aims to become a leader in artificial intelligence and robotics. The company’s plans include producing AI-powered robots at commercial scale and significantly increasing vehicle deliveries.
