Elon Musk Becomes First Person to Surpass $500 Billion Net Worth
Elon Musk's net worth has surged past $500 billion (€426 billion), making him the first person to achieve this milestone. This significant increase comes amidst Tesla's stock rising by about 13% since the start of the year.
Musk's wealth is primarily tied to his stake in Tesla. On Wednesday, Tesla's stock surged, adding an estimated $9.3 billion (€8 billion) to his net worth and pushing him over the $500 billion mark. This impressive growth follows Tesla's better-than-expected vehicle deliveries in the third quarter, nearing 500,000 units.
Earlier last month, Larry Ellison briefly surpassed Musk as the world's richest person. However, Musk quickly reclaimed the top spot. Despite challenges and criticism, Tesla's stock has continued to rise, with Musk now $149 billion (€127 billion) richer than Ellison as of Thursday.
To qualify for a compensation package that could make him the first trillionaire, Musk must achieve aggressive Tesla milestones, including a market valuation of $650 billion, revenue targets of $100 billion, and adjusted EBITDA of $12 billion. With Tesla's recent performance and Musk's determination, these goals appear within reach.
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