Musk Becomes First Ever $500 Billion Man as Tesla Stock Soars

After Surpassing $400 Billion Last December,
Musk's Net Worth Hits $500 Billion in Less Than a Year
Forbes: "Musk Could Become a Trillionaire by 2033"

Tesla's stock price has continued its upward trend for several consecutive days, pushing the net worth of Elon Musk, the CEO of Tesla and the world's richest person, above $500 billion (approximately 702 trillion won) for the first time ever.

According to the Forbes Billionaires Index, as of 4:15 p.m. local time on the 1st, CEO Musk's net worth reached $501 billion.

Elon Musk Tesla CEO.

This surge is attributed to the recent sharp rise in Tesla's stock price. Tesla's year-to-date stock price increase has exceeded 21%, and compared to its lowest point in early April of this year, it has more than doubled. On this day alone, the stock closed up by 3.31%. Reuters reported that, as a result, CEO Musk's net worth increased by more than $6 billion. As of September 15, CEO Musk owned 12.4% of Tesla's shares.

According to Forbes, CEO Musk's net worth surpassed $400 billion for the first time ever in December last year. In less than a year, it has now reached $500 billion. Forbes predicted that if this pace continues, CEO Musk could become the world's first trillionaire before March 2033.

At Tesla, CEO Musk is pursuing the development of robo (autonomous) taxis, artificial intelligence (AI), and humanoid robots, offering investors an optimistic outlook. While there are concerns that the discontinuation of the U.S. federal government's electric vehicle tax credit (subsidy) could somewhat slow down electric vehicle sales, Tesla's third-quarter electric vehicle sales are estimated to have been strong as buyers rushed to purchase before the benefits expired at the end of September.

Musk's other companies are also increasing their corporate value this year. He owns about 42% of the space company SpaceX, as well as about 53% of the company formed by merging the social media platform X (formerly Twitter) and the AI startup xAI. According to PitchBook, xAI's corporate value reached $75 billion as of July. Bloomberg reported in July that SpaceX was preparing to sell shares, valuing the company at about $400 billion.

This content was produced with the assistance of AI translation services.