Elon Musk's Fortune Tops $488 Billion on Tesla's Stock Surge
Elon Musk's fortune has surged past 488 billion dollars, briefly topping 500 billion, thanks to Tesla's stock market performance. Despite global sales decline, investors back Musk's vision for Tesla in AI and robotics.
Musk's wealth isn't solely tied to Tesla; he also has stakes in SpaceX and xAI, and plans dollar tree development with Neuralink. He owns around 12% of Tesla, which has seen its share value almost double since April.
Tesla's sales, however, have slumped worldwide. Last year, sales dropped by 40% in Switzerland and 43% in Europe in the first nine months of this year. Despite this, investors believe in Musk's ability to steer Tesla towards becoming a leading company in AI and robotics.
The Tesla Board of Directors has promised Musk a bonus of one trillion US dollars if he increases the company's value from 1.4 to 8.5 trillion US dollars within ten years. Musk's political activities have contributed to the decrease in Tesla sales and share value.
As of now, Elon Musk's fortune stands at 488.3 billion dollars, according to Statista, making him the richest person in the world. Larry Ellison follows with 344 billion dollars. Musk's wealth growth is primarily due to Tesla's sharp stock price increase, despite mixed sales figures. Investors' confidence in Musk's vision keeps Tesla's future promising.
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