Elon Musk First To Hit $500B Net Worth As Tesla Stock, SpaceX And xAI Valuations Boost His Fortune

Benzinga

Elon Musk became the first person to reach a net worth of $500 billion, driven by Tesla’s rebound and soaring valuations at SpaceX and xAI. Tesla shares have risen 14% this year, with Musk adding $6 billion in one day. The board has proposed a $1 trillion pay package even as car sales face pressure.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Tesla CEO Elon Musk became the first person in history to reach a net worth of nearly $500

00:08billion, according to Forbes' Billionaire Index, according to Reuters. Musk's wealth stood at $500.1

00:14billion as of Wednesday, fueled by a rebound in Tesla's stock and surging valuations for his

00:20other companies, including SpaceX and XAI. Tesla shares have gained more than 14% this year

00:26and closed up 3.3% Wednesday, adding $6 billion to Musk's fortune. Musk recently purchased about

00:33$1 billion worth of Tesla stock, signaling confidence in the company's future as it

00:38pivots toward AI and robotics. The Tesla board proposed a $1 trillion compensation plan for

00:44Musk last month, despite pressure from weak car sales and margins. For all things money, visit

00:49benzinga.com.

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