Elon Musk becomes first person to hit $500 billion net worth

Elon Musk:  The world's richest businessman, Elon Musk, has made history. He is the first person in the world to achieve a net worth of $500 billion. According to Forbes, the rise in Tesla shares has helped Elon Musk's net worth rise, pushing his wealth past the $500 billion mark. Previously, Musk was the first person to reach $300 billion, and then $400 billion. Only two people have surpassed the $300 billion mark. Following Elon Musk, Oracle founder Larry Ellison, who is currently the world's second-richest businessman, has achieved this feat.

Let us tell you what kind of figures Forbes has revealed about Elon Musk's net worth.

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Net worth surpasses $500 billion

According to Forbes' Real-Time Billionaires list, Tesla CEO and founder Elon Musk's net worth has touched $500 billion for the first time. Forbes tracks the net worth of billionaires on a real-time basis. Musk's net worth appeared to touch $500 billion when Tesla shares were at their all-time high.

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Musk's net worth declined slightly after the stock market closed, but remains very close to $500 billion. If the company's shares continue to rise on Thursday, this figure will be significantly surpassed.

How much has his wealth increased?

According to Forbes' Real-Time Billionaires list, Elon Musk's net worth increased by $8.3 billion on Wednesday. After which, his total net worth is seen to be $499.1 billion. Notably, Elon Musk's net worth has increased since 2020. According to Forbes, his net worth was estimated at $25 billion in 2020. In just five years, his net worth has increased 20-fold. Experts believe that Elon Musk's wealth may increase further in the coming years.

Tesla Shares Rise

Tesla shares saw a rise of more than 3 percent on Wednesday, taking Elon Musk's wealth to a historic high. According to the data, Tesla shares closed with a gain of 3.31 percent, reaching $459.46. However, during the previous trading session, the company's shares had reached $462.29. Experts believe that the company's shares could soon touch $500. The company's stock has reached a record high of $488.54. This year, the company's stock has risen more than 21 percent.

Summary

However, since his exit from the Trump administration, Tesla's stock has risen more than 100 percent. On April 8th, the company's shares closed at $221.86. Since then, it has gained 107 percent.