Elon Musk Becomes World's First $500 Billionaire
Elon Musk has made history by becoming the first person to reach an estimated net worth of $500 billion, according to Forbes. The tech mogul's wealth has seen a remarkable surge, surpassing the $400 billion mark in late 2020.
Musk's fortune is primarily derived from his stakes in Tesla and SpaceX. Despite his frequent visits to the White House during the early months of Trump's presidency, a fallout occurred later in the year. Some potential Tesla buyers were reportedly deterred by Musk's right-wing political views and his association with Trump's policies, leading to a temporary weakening of Tesla's sales.
Musk's wealth is challenging to estimate due to the non-public nature of many of his companies. These include online platform X, AI developer xAI, and Neuralink, which focuses on brain implants. Neuralink was co-founded by Musk in 2016, but specific shareholder details for this and the other companies are not publicly available.
To reassure the market about Tesla's growth potential, Musk has shared plans for robotaxis and robots. Despite the challenges, Musk's wealth continues to grow, making him approximately $150 billion wealthier than Oracle co-founder Larry Ellison.
Elon Musk's unprecedented wealth, primarily from Tesla and SpaceX, is a testament to his entrepreneurial success. Despite political controversies and market fluctuations, Musk's innovative ventures continue to capture global attention and investment.
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