Musk's Estimated Wealth Hits $500 Billion - Elon Musk's Wealth Surges Past $500 Billion
Elon Musk, the CEO of Tesla and SpaceX, has seen his wealth soar to over $500 billion, according to Forbes. This places him far ahead of Oracle co-founder Larry Ellison, by around $150 billion. Musk's fortune primarily comes from his shares in Tesla and SpaceX.
Musk's wealth has grown significantly due to the success of his companies, despite many of them not being publicly traded. He has convinced investors that Tesla can find new growth through robotaxis and robots. Initially, investors also speculated that Tesla would benefit from Musk's proximity to then US President Donald Trump.
However, Musk and Trump had a falling out in 2021, with Trump briefly threatening to cut off Musk's companies from government funds. Despite this, Musk's companies, including the online platform X, the AI developer xAI, and Neuralink, which works on brain implants, continue to thrive. Tesla's sales figures weakened temporarily due to potential buyers being deterred by Musk's right-wing political views and his role in Trump's administration. Nevertheless, Musk's wealth continued to rise, reaching the $400 billion mark in December 2020 and now surpassing $500 billion.
Elon Musk's wealth has reached unprecedented heights, driven by the success of his innovative companies. Despite political ups and downs, his wealth continues to grow, reflecting the market's confidence in his vision and the potential of his businesses. The current relationship between Musk and former US President Donald Trump is distant, with no recent evidence of direct partnership or influence on Tesla or SpaceX development.
