Elon Musk’s wealth briefly topped $500bn. This is why

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleElon Musk briefly became the first individual in history to reach a net worth of $500bn (£371bn) on Wednesday, before his wealth dipped below this figure. His net worth concluded the day at $470bn (£348.7bn), marking a single-day increase of $10.5bn, according to Bloomberg’s Billionaires Index. The significant rise in wealth is largely due to a 3.3 per cent increase in Tesla shares, which have climbed over 70 per cent in the past six months. Musk had recently lost his position as the world's richest person to Larry Ellison for a short period, but has since substantially extended his lead. The $121bn difference between Musk's and Ellison's net worth is equivalent to the total wealth of Bill Gates, who is ranked 15th globally. In fullElon Musk becomes world’s first half-trillionaire – for a few hoursThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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