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Tesla and SpaceX CEO Elon Musk has become the world’s first person to reach a net worth of $500 billion, according to Forbes’ Billionaires Index. As of 4:15 pm ET on Wednesday (1:45 am Thursday, India time), Musk’s wealth stood at $500.1 billion, followed by Oracle founder Larry Ellison at $350.7 billion.
According to IANS, Musk’s milestone comes as Tesla shares have risen over 14 per cent so far this year, closing 3.3 per cent higher on Wednesday, adding more than $6 billion to his fortune. His AI startup, xAI, was valued at $75 billion in July and had targeted a $200 billion valuation in a planned fundraise. However, Musk clarified that the company was not raising capital at the time.
Ellison briefly became the world’s richest person last month, following a surge in Oracle’s share price, but Musk has now reclaimed the top spot. Musk first became the world’s richest person in 2021 and has maintained leadership in global wealth rankings for roughly 300 days, briefly losing it to Amazon founder Jeff Bezos and LVMH’s Bernard Arnault.Tesla Y deliveries in India
Meanwhile, Tesla has commenced deliveries of the standard Model Y in India, with the Long Range variant expected soon. The company has announced that new Model Y owners will receive a complimentary Wall Connector, allowing convenient home or workplace installation for daily charging.
Tesla’s Wall Connector reduces per-mile costs and eliminates the need for visits to fuel stations. Customers can also access Tesla Charging Stations in Mumbai and Delhi.
The Model Y is priced starting at ₹59.89 lakh. In August, Tesla expanded its India footprint by opening a second showroom at Worldmark 3, Aerocity in NCR, following its first in Mumbai.
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