NEW DELHI– Tesla and SpaceX CEO Elon Musk has officially become the first individual in history to amass a net worth of $500 billion, according to Forbes’ real-time billionaire index.
As of 4:15 p.m. ET Wednesday (1:45 a.m. Thursday in India), Musk’s fortune stood at $500.1 billion. His milestone was fueled by a strong rally in Tesla shares, which have gained more than 14 percent this year. On Wednesday alone, the stock closed 3.3 percent higher, boosting Musk’s wealth by over $6 billion.
Musk’s artificial intelligence startup, xAI, was valued at $75 billion as of July. The company was reportedly aiming for a $200 billion valuation after a fundraising round, though Musk noted at the time that it was not raising new capital.
Oracle founder Larry Ellison ranked second on Forbes’ list with a net worth of roughly $350.7 billion. Last month, Ellison briefly overtook Musk as the world’s richest person following a surge in Oracle’s stock.
Musk, who first claimed the world’s richest title in 2021, has spent 300 days at the top of the wealth rankings. He regained the title last year after temporarily losing it to Amazon founder Jeff Bezos and LVMH chief Bernard Arnault.
Meanwhile, Tesla has begun delivering the standard Model Y to customers in India, with deliveries of the Long Range variant set to begin soon. The company also announced that all new Model Y buyers will receive a complimentary Wall Connector, enabling convenient at-home charging.
The Wall Connector can be installed at homes or workplaces, allowing owners to start each day with a full charge and avoid fuel station visits. Charging is also available at Tesla Supercharger stations in Mumbai and Delhi.
The Model Y starts at Rs 59.89 lakh in India. In August, Tesla opened its first showroom in the National Capital Region at the Worldmark 3 complex in Aerocity, marking its second retail location in India after Mumbai. (Source: IANS)
