đşđ¸ Elon Musk Becomes the First Person to Reach a $500 Billion Net Worth đ°đ
Elon Musk has made history by becoming the first individual to achieve a net worth exceeding $500 billion, according to Forbes. This milestone was driven by a resurgence in Teslaâs stockâup over 14% this yearâand strong valuations for his other companies, including xAI and SpaceX. Musk holds a 12.4% stake in Tesla, which saw a 3.3% gain on the day of the announcement, adding over $6 billion to his wealth. Teslaâs improved investor sentiment followed Muskâs renewed focus on the company after a period of political involvement. He further bolstered confidence by purchasing $1 billion of Tesla shares. ďżź
Despite this progress, Tesla still faces challenges like declining auto sales and profit pressure, placing it among the weaker performers in the âMagnificent Sevenâ tech stock group. The Tesla board recently proposed a $1 trillion compensation package for Musk, contingent on ambitious business goals. Muskâs AI venture xAI had a valuation of $75 billion in July and was speculated to seek a $200 billion valuation, though Musk denied active fundraising. SpaceX was reportedly targeting a $400 billion valuation. ďżź
#ElonMusk
Elon Musk has made history by becoming the first individual to achieve a net worth exceeding $500 billion, according to Forbes. This milestone was driven by a resurgence in Teslaâs stockâup over 14% this yearâand strong valuations for his other companies, including xAI and SpaceX. Musk holds a 12.4% stake in Tesla, which saw a 3.3% gain on the day of the announcement, adding over $6 billion to his wealth. Teslaâs improved investor sentiment followed Muskâs renewed focus on the company after a period of political involvement. He further bolstered confidence by purchasing $1 billion of Tesla shares. ďżź
Despite this progress, Tesla still faces challenges like declining auto sales and profit pressure, placing it among the weaker performers in the âMagnificent Sevenâ tech stock group. The Tesla board recently proposed a $1 trillion compensation package for Musk, contingent on ambitious business goals. Muskâs AI venture xAI had a valuation of $75 billion in July and was speculated to seek a $200 billion valuation, though Musk denied active fundraising. SpaceX was reportedly targeting a $400 billion valuation. ďżź
#ElonMusk
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