Elon Musk becomes world’s first half-trillionaire – for a few hours
Elon Musk’s wealth briefly topped $500bn. This is why
- Elon Musk briefly became the first individual in history to reach a net worth of $500bn (£371bn) on Wednesday, before his wealth dipped below this figure.
- His net worth concluded the day at $470bn (£348.7bn), marking a single-day increase of $10.5bn, according to Bloomberg’s Billionaires Index.
- The significant rise in wealth is largely due to a 3.3 per cent increase in Tesla shares, which have climbed over 70 per cent in the past six months.
- Musk had recently lost his position as the world's richest person to Larry Ellison for a short period, but has since substantially extended his lead.
- The $121bn difference between Musk's and Ellison's net worth is equivalent to the total wealth of Bill Gates, who is ranked 15th globally.