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The Digest:

Elon Musk has shattered financial records by becoming the first human to amass a net worth of $500 billion, solidifying his position as the world's wealthiest individual. This unprecedented milestone, driven by surging valuations of Tesla and SpaceX, places him halfway to an even more staggering goal: becoming the world's first trillionaire.

Key Points:
  • Elon Musk's net worth reached $500 billion on October 2, a historic first.
  • The milestone was fueled by a nearly 4% rise in Tesla's stock, adding $9.3 billion to his fortune in a single day.
  • His wealth is $150 billion more than the runner-up, Oracle's Larry Ellison.
  • Musk's 12% stake in Tesla is now worth $191 billion.
  • His 42% stake in SpaceX, valued at $400 billion, contributes $168 billion to his wealth.
  • A proposed new Tesla pay package could grant him stock worth up to $1 trillion if certain "Mars-shot" milestones are met.
  • Musk stated the potential compensation is about maintaining "influence" over Tesla's future direction, not the money.
This financial landmark underscores the immense concentration of wealth in the tech and space sectors and sets a new benchmark for individual fortune in the modern era.

Sources: Forbes