Elon Musk's Wealth Surges Past $500 Billion, Tesla Shareholders to Vote on Historic Stock Package
Elon Musk, the innovative CEO of Tesla and SpaceX, has reached unparalleled heights in wealth rankings. In December 2020, he became the first person to surpass the $400 billion mark, and in recent months, his fortune has soared to an estimated $500 billion.
Musk's wealth is primarily tied to his stakes in Tesla and SpaceX. Tesla's market capitalization, currently above $1.5 trillion, has been a significant driver of his wealth. Despite initial concerns about Musk's proximity to former US President Donald Trump, Tesla's stock recovered and surged due to Musk's ambitious plans for robotaxis and robots.
Musk's wealth is now estimated to be around $150 billion more than that of Oracle co-founder Larry Ellison. However, recent calculations by Bloomberg put Musk's fortune at $470 billion, while Forbes adjusted it to $499.1 billion. Meanwhile, shareholders will decide on Musk's stock package plan at Tesla's annual meeting in November. If certain conditions are met, including Tesla's market capitalization reaching eight times its current value over a ten-year period, Musk could receive up to 423 million shares.
Elon Musk's wealth continues to grow at a staggering pace, driven by the success of Tesla and SpaceX. As shareholders prepare to vote on his stock package plan, the world watches to see if Musk can reach the unprecedented goal of an eightfold increase in Tesla's market capitalization over the next decade.
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