New Delhi– Tesla and SpaceX CEO Elon Musk has made history by becoming the first person in the world to achieve a net worth of $500 billion, according to Forbes’ billionaires index. At 4:15 p.m. ET on Wednesday (1:45 a.m. Thursday IST), Musk’s wealth stood at $500.1 billion, fueled by gains in Tesla’s stock and the soaring valuation of his ventures.
Tesla shares have climbed more than 14 percent this year and closed 3.3 percent higher on Wednesday, adding over $6 billion to Musk’s fortune in a single day. His artificial intelligence startup xAI was valued at $75 billion in July, with reports suggesting it could target a $200 billion valuation in the future, though Musk has stated the company is not currently raising capital.
Oracle founder Larry Ellison trails Musk as the second-richest person on the list, with a net worth of about $350.7 billion. Ellison briefly surpassed Musk last month after a surge in Oracle’s share price, but Musk quickly regained the top spot. Since first becoming the world’s richest person in 2021, Musk has spent more than 300 days at the top of the global wealth rankings, alternating positions with Amazon’s Jeff Bezos and LVMH chairman Bernard Arnault.
Meanwhile, Tesla is expanding its presence in India. The company has begun delivering the standard Model Y to customers, with the Long Range variant expected to roll out soon. New buyers will receive a complimentary Wall Connector for convenient home or workplace charging, ensuring vehicles can start each day fully charged. Tesla’s charging stations are already operational in Mumbai and Delhi.
The Model Y is priced from Rs 59.89 lakh in India. In August, Tesla opened its first showroom in the National Capital Region at Aerocity’s Worldmark 3 complex, its second retail location in the country after Mumbai. (Source: IANS)
