Is Elon Musk the First Person to Achieve a Net Worth of $500 Billion?
Click to start listening
Synopsis
Elon Musk has made history by becoming the first person ever to reach a net worth of $500 billion, leaving Oracle's Larry Ellison far behind. This milestone reflects Tesla's soaring stock prices and Musk's innovative ventures, including his AI startup, xAI. Discover more about Musk's remarkable journey and Tesla's latest developments.
Key Takeaways
- Elon Musk is the first individual to achieve a net worth of $500 billion.
- Oracle's Larry Ellison is in second place with a net worth of $350.7 billion.
- Tesla shares have risen significantly this year, contributing to Musk's wealth.
- The Model Y has been launched in India with a starting price of Rs 59.89 lakh.
- Tesla's AI startup, xAI, is valued at $75 billion.
New Delhi, Oct 2 (NationPress) Elon Musk, the CEO of Tesla and SpaceX, has made history as the first individual to attain a staggering net worth of $500 billion, with Oracle's Larry Ellison trailing far behind in second place. As per the Forbes billionaires index, Musk's wealth reached $500.1 billion at 4:15 PM ET (1:45 AM Thursday India time).
This remarkable achievement coincided with a significant rise in Tesla shares, which increased by over 14% this year, culminating in a 3.3% spike on Wednesday (US time), thereby adding over $6 billion to Musk's fortune.
Additionally, Musk's AI venture, xAI, was valued at $75 billion as of July and aimed for a $200 billion valuation after a fundraising round, although Musk clarified that the company was not seeking capital at that moment.
Following Musk, Oracle's Ellison stands as the second-richest individual on Forbes' list, boasting a net worth of approximately $350.7 billion.
Last month, Ellison temporarily surpassed Musk to become the world’s richest person, thanks to a surge in his company's stock price.
Musk held the top spot in global wealth rankings for 300 days. Since first achieving the title of the world’s richest person in 2021, he reclaimed it last year after a brief setback to Amazon founder Jeff Bezos and Bernard Arnault from LVMH.
In other news, Tesla has commenced deliveries of the standard Model Y to customers in India, with the Long Range variant set to follow soon.
The electric vehicle manufacturer revealed that new Model Y owners will receive a complimentary Wall Connector. This allows for convenient installation in their parking areas for easy home charging.
The Wall Connector can be set up at homes or workplaces, enabling users to start each day with a fully charged Tesla, reducing per-mile costs and eliminating the need for fuel station visits. Charging is also available at Tesla Charging Stations located in Mumbai and Delhi.
The Model Y is priced starting at Rs 59.89 lakh.
Recently, in August, Tesla launched its inaugural showroom in the National Capital Region (NCR) at the Worldmark 3 complex in Aerocity, marking the company’s second retail outlet in India after Mumbai.
Point of View
It is essential to recognize the significance of Elon Musk's achievement. His innovative spirit and relentless pursuit of excellence have positioned him at the forefront of the global economy. While rivals like Larry Ellison continue to strive for the top, Musk's unique blend of vision and execution sets him apart. This milestone is not just a personal triumph; it signifies a pivotal moment in the tech and automotive industries.
NationPress
02/10/2025
Frequently Asked Questions
How did Elon Musk achieve a net worth of $500 billion?
Elon Musk reached a net worth of $500 billion primarily due to the significant rise in Tesla's stock prices and the valuation of his AI startup, xAI.
Who is the second-richest person after Elon Musk?
Larry Ellison, the founder of Oracle, is currently the second-richest person, with a net worth of approximately $350.7 billion.
What is the starting price of Tesla's Model Y in India?
The starting price of Tesla's Model Y in India is Rs 59.89 lakh.
Where can Tesla owners charge their vehicles in India?
Tesla owners can charge their vehicles at home using the Wall Connector or at Tesla Charging Stations located in major cities like Mumbai and Delhi.
What recent developments has Tesla made in India?
Tesla has recently started delivering the standard Model Y in India and opened its first showroom in the National Capital Region (NCR).
