Elon Musk has made financial history, becoming the first person in the world to surpass a net worth of $500 billion, according to the Forbes Billionaires Index.
This extraordinary milestone has been driven by a significant rebound in Tesla’s stock, increased valuations of his space company SpaceX, and positive developments surrounding his artificial intelligence start-up, xAI. Just this year, Tesla’s stock has risen by more than 14%, while Musk’s fortune has grown by over $6 billion in recent days.
Musk’s decision to step back from political involvement and fully concentrate on his businesses has greatly boosted investor confidence. He also purchased additional Tesla shares worth about $1 billion, signaling strong confidence in the company’s trajectory toward new technologies such as AI and robotics, Sky News reports.
His start-up xAI is now valued at $75 billion, while SpaceX is expected to reach a record valuation of $400 billion in upcoming funding rounds.
According to Forbes’ ranking, Musk is followed by Oracle’s Larry Ellison, whose fortune stands at around $350 billion.
