Elon Musk Becomes First Person to Top $500 Billion in Wealth
Elon Musk's wealth has surged, making him the first person in history to top $500 billion. His focus on Tesla has driven this growth, with the company's stock soaring over 20% in 2024.
Musk's fortune has been boosted by Tesla's strong performance and the rising valuations of his other ventures. Tesla aims to lead in AI and robotics, with plans to build and sell AI-powered robots. Meanwhile, SpaceX has been valued at around $400 billion, and xAI, valued at $75 billion in July, is expected to reach $200 billion soon.
Musk's wealth is far ahead of competitors like Larry Ellison, who has a net worth of $350.7 billion. Musk's potential compensation package at Tesla could be worth over $1 trillion if he meets certain targets. Despite headwinds like slowing car sales and competition from BYD, Tesla's stock has remained strong.
Elon Musk's wealth has reached unprecedented heights, driven by Tesla's success and the growth of his other ventures. His focus on Tesla has been crucial, with the company's stock performance playing a significant role in his wealth increase. Despite challenges, Musk's lead as the world's richest person is secure.
