ANAMBRA POLICE ACTION ON THE CULT CLASH THAT RESULTED IN THE FATAL INJURY OF FOUR PERSONS AT AFOR NAWFIA MARKET. (PHOTO). #PRESS RELEASE
Musk reaches $500 billion net worth, first person to do so, Forbes shows
Elon Musk became the first person to surpass $500 billion in net worth on Wednesday, driven by a rebound in Tesla shares and rising valuations of his other tech ventures. The milestone comes less than a year after his wealth topped $400 billion, highlighting his position as the world’s richest individual. Musk’s fortune briefly hit $500 billion before settling at $499.1 billion at 5 p.m. ET, according to Forbes’ billionaires index.
Much of Musk’s wealth is tied to his roughly 12% stake in Tesla, whose stock has risen about 14% so far this year following a volatile start. Last month, Musk disclosed purchasing around $1 billion in Tesla shares, signaling confidence in the company as it pivots toward AI and robotics. Tesla also proposed a $1 trillion compensation plan for Musk, the largest ever for a corporate executive, setting ambitious operational and financial targets while addressing his requests for a larger stake. Beyond Tesla, Musk’s ventures—including SpaceX and AI startup xAI—have also grown in value this year, with valuations reportedly reaching $400 billion and $200 billion, respectively. Oracle founder Larry Ellison remains the second-richest person, with a net worth of approximately $350.7 billion.
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