Elon Musk has become the first person to reach a net worth of $500bn, bringing the Tesla chief executive halfway to trillionaire status.

Musk’s wealth temporarily crossed the half-trillion mark on Wednesday before retreating to $499bn, according to the Forbes billionaires list.

Musk owns 12% of Tesla, which is worth more than $1.5tn, and his wealth has been boosted this year by surge in the electric carmaker’s share price.

  • shalafi@lemmy.world
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    17 hours ago

    People are buying only because it’s a growth stock. Eventually enough people will get nervous and cause a stampede. Lots of owners are going to left holding the bag, an empty bag.