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| Elon Musk has reached $500 , according to recent data by Forbes / |
Elon Musk is getting closer to become the first trillionaire in the world, as reported by Forbes.
The head of Tesla and SpaceX briefly reached a historic milestone of a net worth of $500 billion on Wednesday, October 1, before experiencing a slight decline.
According to Forbes’ Real-Time Billionaires tracker, the 54-year-old’s wealth peaked at $500.1 billion before falling to $499.1 billion. Musk’s fortune has increased due to a rebound in Tesla’s stock and consistent growth in his other businesses, despite facing recent challenges related to his political endeavors.
He continues to hold the title of the world’s richest individual, with Oracle co-founder Larry Ellison in second place at $350.7 billion, followed by Meta CEO Mark Zuckerberg at $245.8 billion.
Musk’s ascent has taken decades to achieve. After attending the University of Pennsylvania and leaving Stanford, he sold his first company, an online publishing software business, to Compaq for over $300 million in 1999.
He then co-founded a venture that evolved into PayPal before launching SpaceX in 2002. Two years later, he took on the role of chairman at Tesla, which has since become one of the most valuable car manufacturers globally.