Elon Musk, the CEO of Tesla and SpaceX, has achieved a significant milestone in his wealth. On Wednesday, he became the first individual in history to exceed a net worth of $500 billion, according to Forbes’ Real-Time Billionaires tracker. However, Tesla’s shares experienced a minor drop, closing at $459.46, which led to a slight decrease in Musk’s overall fortune to $499.1 billion by the evening.
Wealth Surge Amid Tesla Stock Fluctuations
Despite the dip in stock value, Musk’s net worth increased by $8.3 billion during the day. This remarkable wealth moment establishes him as the wealthiest person globally and the inaugural member of the exclusive $500 billion club. Just last month, Musk briefly lost his title to Larry Ellison, co-founder of Oracle Corp., following a surge in Ellison’s company’s stock. As of October 1, Ellison occupies the second position in the wealth rankings with a net worth of approximately $350 billion.
Musk’s Texas Holdings
Musk remains the wealthiest individual in Texas. His business ventures are predominantly based in the state, encompassing Tesla and SpaceX. According to a September analysis by Hearst Newspapers, Musk holds more than 500 properties across approximately 6,000 acres in Texas.
- Elon Musk’s Wealth: Exceeded $500 billion.
- Tesla Stock Price: Closed at $459.46.
- Musk’s Net Worth by Evening: $499.1 billion.
- Increase in Wealth: $8.3 billion in one day.
- Larry Ellison’s Net Worth: Approximately $350 billion.
