Elon Musk, the richest man in the world, has officially reached a new financial milestone: he is now halfway to being the first trillionaire. Shares in Tesla, Musk’s EV company, climbed about 4% as of 15.30 ET, which is 21.30 in Central Europe. According to Forbes’ Real-Time Billionaires tracker, that increased his wealth by an estimated $9.3 billion (€7.9 billion).
Musk’s wealth briefly surpassed $500 billion (€425.25 billion) due to the stock movement, but the occasion was fleeting. Musk’s estimated net worth at the end of Wednesday was $499.1 billion. The software billionaire’s incredible wealth frequently makes headlines. By March 2020, Musk was only worth $24.6 billion (€20.9 billion), but by December 2024, he had amassed $400 billion (€340.4 billion), making him the “richest man in the world” multiple times.
As the CEO refocuses on the business, the corporation also seems to be regaining the faith of investors following Musk’s political venture. Musk supported US President Donald Trump’s candidacy at the beginning of his term in government throughout months of contentious political roles.
Since Musk declared in April that he would withdraw from political activities, Tesla’s stock has almost doubled, and on Wednesday it soared steadily from $227.50 to over $459. Elon Musk recently purchased over 2.5 million Tesla shares, valued at over $1 billion (€850 million), as a sign of his dedication to the business.
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