Elon Musk, the richest man in the world, has reached a new milestone: he is now officially halfway to becoming the first trillionaire. Musk’s electric vehicle firm, Tesla, saw a nearly 4% increase in shares as of 15.30 ET, or 21.30 in Central Europe. Forbes’ Real-Time Billionaires tracker estimates that this increased his wealth by $9.3 billion (€7.9 billion).
Though the moment was brief, the stock movement briefly raised Musk’s worth above $500 billion (€425.25 billion). Musk was valued at $499.1 billion at the conclusion of Wednesday. Due to his incredible wealth, the tech millionaire frequently makes news. Musk, who was worth only $24.6 billion (€20.9 billion) in March 2020, had amassed $400 billion (€340.4 billion) by December 2024, becoming the “richest man in the world” multiple times in the process.
The corporation also seems to be winning back investors’ faith after Musk’s political ventures, since the CEO is refocusing on the business. Musk supported the campaign and the beginning of US President Donald Trump’s time in office over months of contentious political roles.
Since Musk said he would withdraw from political activities in April, Tesla’s stock has almost doubled. On Wednesday, it increased steadily from $227.50 to over $459. Recent purchases by Elon Musk of nearly 2.5 million Tesla shares, valued at over $1 billion (€850 million), demonstrate his commitment to the company.
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