On Wednesday, Elon Musk’s wealth surpassed $500 billion for the first time, thanks to a significant increase in Tesla’s stock value. This figure was noted in the updated Forbes ranking.
This is reported by Finway
Musk’s Historic Leadership in the Global Billionaires Ranking
“Analysts also note that Musk can be considered the richest person in history. According to Harvard Business School, in 1937, John Rockefeller’s wealth was $1.4 billion, or about 1.5% of the U.S. GDP at that time, while Musk’s wealth has reached 1.6% of the U.S. economy.”
According to experts, Elon Musk not only topped the list of the richest people on the planet but also surpassed the historical figures of John Rockefeller. While Rockefeller had a fortune of $1.4 billion in 1937 (1.5% of the U.S. GDP at that time), Musk’s wealth today amounts to 1.6% of the American economy.
Sources of Wealth and Growth Dynamics
John Rockefeller amassed his fortune through the oil company Standard Oil, which at one point was a monopoly in the U.S. market. Elon Musk, on the other hand, became world-renowned as the founder of Tesla, a company specializing in the production of electric vehicles.
In addition to Tesla, Musk holds a stake in SpaceX, which has a market value estimated at $168 billion, as well as in xAI, which focuses on artificial intelligence development (valued at $60 billion).
Tesla’s stock rose by 3.3% on Wednesday, and during trading on Thursday, the shares further increased by 1.6%. Overall, since the beginning of the year, Tesla’s market capitalization has grown by 13.8%, reaching $1.53 billion.