Musk becomes the first person to see the wealth of more than $ 500 billion

The boss of Tesla, Elon Musk, became the first person to reach a net value of more than $ 500 billion (370.9 billion pounds sterling) because the value of the company of electric cars and its other companies have increased this year.

The net value of the technological tycoon briefly reached $ 500.1 billion on Wednesday afternoon in New York, before diving slightly over $ 499 billion later in the day, the billionaires of Forbes reported.

Alongside Tesla, the evaluations of its other companies, including the Artificial Intelligence startup XAI and the SPACEX rocket company, would also have climbed in recent months.

The milestone cements more the status of musk as the richest person in the world, ahead of competitors in the world technology sector.

According to the Billionaires de Forbes index, the founder of Oracle, Larry Ellison is the richest second in the world, with a fortune of around $ 350.7 billion.

The enormous wealth of Musk is closely linked to its participation of more than 12% in Tesla, which saw its actions increase strongly this year.

Tesla’s shares were more than 3.3% higher at the end of New York negotiations on Wednesday and now increased by more than 14% this year.

The actions of the company have carried out gains in recent months, investors welcome Musk by focusing more time on its companies rather than politics.

He faced criticism earlier this year for his work with the Department of Effectiveness of the Government of the Trump Administration (DOGE), the body responsible for reducing the expenditure of the American government and cutting jobs.

The chairman of the board of directors of Tesla, Robyn Denholm, said in September that Musk was now “before and center” of the automaker.

Last month, Musk also announced that he had bought about $ 1 billion in Tesla shares in what was considered by some investors as a vote of confidence in the company.

Tesla has been faced with a number of challenges in recent years, including difficult competition from electric car manufacturers such as BYD in China.

The company is also moving to an artificial intelligence company (AI) and robotics.