Elon Musk’s Historic Financial Milestone
Elon Musk, the CEO of Tesla, has made history by becoming the first individual to achieve a net worth exceeding $500 billion. This remarkable feat comes as the value of Tesla and Musk’s other ventures, such as the artificial intelligence startup xAI and the aerospace company SpaceX, have seen significant increases this year.
Details of Musk’s Wealth Surge
On a Wednesday afternoon in New York, Musk’s net worth briefly touched $500.1 billion before slightly dipping to just over $499 billion, according to the Forbes billionaires index. This milestone solidifies Musk’s position as the wealthiest person globally, far ahead of his competitors in the tech industry.
Comparison with Other Billionaires
The Forbes billionaires index lists Oracle founder Larry Ellison as the world’s second richest person, with a net worth of approximately $350.7 billion. Ellison temporarily surpassed Musk last month when Oracle’s shares surged by over 40%, driven by the company’s optimistic outlook for its cloud infrastructure and AI ventures.
Tesla’s Role in Musk’s Wealth
Musk’s substantial wealth is closely linked to his more than 12% stake in Tesla, whose shares have risen sharply this year. Tesla’s stock increased by over 3.3% at the close of New York trading on Wednesday and has climbed more than 20% this year. Investors have responded positively to Musk dedicating more time to his companies rather than political engagements.
Challenges and Criticisms
Earlier this year, Musk faced criticism for his involvement with the Trump administration’s Department of Government Efficiency (DOGE), which aimed to reduce U.S. government spending and cut jobs. Additionally, Musk, who owns the X social media platform, has been outspoken on topics such as immigration and diversity, equity, and inclusion (DEI) programs.
Tesla’s Future Prospects
Robyn Denholm, the chair of Tesla’s board, stated in September that Musk is now “front and center” at the carmaker. The board also announced that Musk could receive a compensation package worth over $1 trillion if he meets a series of ambitious targets over the next decade. These targets include increasing Tesla’s value eightfold, selling a million AI robots, and selling an additional 12 million Tesla cars.
Recent Developments
Last month, Musk purchased approximately $1 billion worth of Tesla shares, which some investors view as a vote of confidence in the company. Despite facing challenges from competitors like China’s BYD, Tesla is transitioning into an AI and robotics business.
Conclusion
Elon Musk’s achievement of surpassing $500 billion in net worth marks a significant milestone in the world of business and technology. As Tesla and Musk’s other ventures continue to grow, the tech magnate’s influence and wealth are likely to expand further, shaping the future of multiple industries.
🔗 **Fuente:** https://www.bbc.com/news/articles/c89d3547npjo