Elon Musk makes history

With Tesla's stock rally and soaring valuations from other startups, Elon Musk has become the first person in history to reach a net worth of $500 billion.

Billionaire Elon Musk became the first person in history to reach a net worth of $500 billion. Photo: Reuters .

As of 3:00 a.m. on October 2 ( Hanoi time), Elon Musk has officially become the first person in history to have an estimated fortune of about 500.1 billion USD , according to Bloomberg Billionaires Index .

Previously, Larry Ellison - who owns about 40% of Oracle - temporarily surpassed Elon Musk to become the richest person in the world in early September, with an estimated fortune of about 363 billion USD .

The recovery in shares of electric car company Tesla and soaring valuations from Musk's other tech startups have helped boost this fortune, according to Reuters .

Musk's fortune is closely tied to Tesla, where he holds a 12.4% stake as of September 15. The company's shares have risen more than 14% since the start of the year and closed up 3.3% in the most recent trading session, adding more than $6 billion to the billionaire's net worth.

Meanwhile, Elon Musk’s other startups, like xAI and rocket company SpaceX, have also expanded their valuations. As of July, xAI was last valued at around $75 billion , according to data from Pitchbook. In September, CNBC reported that the company was aiming for a $200 billion valuation after a fundraising round.

Meanwhile, SpaceX has also grown rapidly. The company's valuation has risen from $36 billion in March 2020 to $350 billion after its last share sale in 2024.

In just five years, Musk's net worth increased from under $40 billion at the beginning of 2020 to $486 billion by the end of 2024.

Compared to 2013, when the assets were only about 5 billion USD , the current figure has increased 75 times. The main driving force comes from the breakthrough of Tesla's stock, from under 30 USD (split price) in early 2020 to nearly 340 USD currently, bringing the company's value from 76 billion USD to more than 1,000 billion USD .

Source: https://znews.vn/elon-musk-di-vao-lich-su-post1590013.html