Elon Musk. Reuters Yonhap News. 

The net worth of Elon Musk, CEO of American electric vehicle maker Tesla and the 'world's richest person,' has been calculated to exceed $500 billion (approximately 702 trillion won) as the company's stock continues to rise.

According to U.S. business publication Forbes, Musk set a record for holding $500 billion in assets for the first time ever on the 1st (local time).

Forbes reported that Musk's net worth first surpassed $400 billion in December of last year and has now exceeded $500 billion in less than a year.

Forbes stated that Tesla's stock rose approximately 4% on the day, increasing Musk's net worth by about $9.3 billion (approximately 13 trillion won).

The value of Musk's 12% stake in Tesla currently stands at $191 billion (approximately 268 trillion won), Forbes explained.

Tesla's stock price rose for four consecutive days from the 26th of last month, closing at $459.46 on this day. It reached as high as $462.29 (up 3.95%) during trading hours before slightly reducing its gains, ending the day with a 3.31% increase.

Tesla's year-to-date stock performance has surpassed 21%, and it has more than doubled compared to its lowest point earlier this April.

Musk is presenting a bright future to investors by focusing on the development of robotic taxis, artificial intelligence (AI), and humanoid robots.

While the phasing out of federal electric vehicle tax credits (subsidies) may cast a shadow over future EV sales, Tesla's third-quarter sales performance is estimated to have been strong due to a surge in EV purchases ahead of the benefit's expiration at the end of September.

In addition to Tesla, Musk holds approximately a 42% stake in space company SpaceX (worth $168 billion) and approximately a 53% stake in the company that merged social media X (formerly Twitter) and AI startup xAI (worth $60 billion).

If this pace is maintained, Musk could become the world's first trillionaire before March 2033, Forbes predicted.

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