Billionaire Elon Musk made history after becoming the first person to reach ₱28 trillion net worth (equivalent to $500 billion USD) on October 1. This milestone is the result of a strong increase in Tesla shares and the continued increase in the value of his companies such as SpaceX and xAI.
A large portion of Musk's wealth comes from Tesla, where he holds a 12% stake worth an estimated ₱10.7 trillion. Tesla shares rose 4% on Wednesday, adding nearly ₱340 billion to his total wealth. Overall, Tesla stock has risen more than 14% this year.
Apart from Tesla, Musk's 42% stake in SpaceX, worth ₱9.4 trillion, and xAI Holdings, currently worth ₱4.2 trillion, also contribute significantly. These companies ensure his dominance in the fields of technology and business.
Now, Musk is ₱8.4 trillion richer than the second richest person in the world. Since December last year alone, his net worth has reached ₱22.4 trillion, and has now jumped to ₱28 trillion.
This new record has fueled speculation that Musk could become the world's first trillionaire, further cementing his title as the richest person in modern history.
