Desk Report:
Elon Musk has set a new milestone in the list of world’s richest people. As a result of his extraordinary success in various technology sectors, including electric car maker Tesla and space research company SpaceX, his wealth has now reached $ 500 billion.
This information was reported by the American magazine Forbes.
According to the Forbes Billionaire Index today (October 2), Wednesday (October 2), Musk’s wealth reached $ 500 billion at one point in the day, and then at 5 pm Eastern time in the United States, it stood at $ 499.1 billion. Last year, his wealth exceeded $ 400 billion for the first time.
A large part of Musk’s total wealth depends on about 12 percent of Tesla shares. Shares of the world’s most valuable car maker have risen about 14 percent this year, although the start of the year was volatile. Last month, Musk announced the purchase of about $ 1 billion worth of Tesla shares, which is seen as a symbol of his confidence in the company’s future transformation plan. Tesla is now not only an electric car maker, but also on the path to transforming into artificial intelligence (AI) and robotics technology.
Tesla’s board recently proposed a plan for Musk to become the owner of $1 trillion, the largest pay package ever proposed for an executive in corporate history. It sets ambitious financial and operational goals for the company and also considers Musk’s demand for an increase in his shareholding.
Tesla’s share price has risen about 35.7 percent since the proposal was announced. Analysts say the plan will encourage Musk to focus more on Tesla’s growth.
From automobiles to space and artificial intelligence
In recent years, Musk’s various initiatives have propelled him into a uniquely influential position in modern technology sectors. From electric cars and renewable energy to satellite communications and artificial intelligence.
Musk’s AI company XAI and rocket maker SpaceX are both in the process of raising new capital this year. The two companies have potential market values of $200 billion and $400 billion, respectively.
XAI is currently expanding a supercomputer called Colossus, which will be used to train large language models. Its chatbot, called Grok, aims to compete with OpenEye’s ChatGPT and Google’s Gemini.
Meanwhile, SpaceX now has a near-monopoly on commercial space. Its Starlink satellite network is currently the world’s largest, handling most of the U.S. space launch contracts. The company regularly launches the most rockets, sends supplies to the International Space Station and carries satellites for rival networks.
Next on the Forbes list is Oracle founder Larry Ellison. As of Wednesday, his net worth was about $350.7 billion.
