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Musk Becomes First Person On Planet Earth Ever to Reach $500 bn Fortune

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Elon Musk, the billionaire entrepreneur behind Tesla, SpaceX, and X, has set an unprecedented record by pushing his personal fortune past the $500 billion mark, according to Forbes’ Real-Time Billionaires index.

This milestone cements Musk’s position as the wealthiest individual in the world, placing him nearly $150 billion ahead of Oracle co-founder Larry Ellison, who holds the second spot. It also makes Musk the first human being in history to control half a trillion dollars in personal wealth a figure larger than the GDP of many countries.

Tesla Surge Fuels Record-Breaking Wealth

The extraordinary jump in Musk’s net worth was triggered by a surge in Tesla’s stock price. On Wednesday, shares of the electric vehicle giant rose by 4%, adding more than $9 billion to Musk’s fortune in just 24 hours. Tesla’s stock has nearly doubled since April, a period when Musk announced his decision to step away from a government advisory role to focus his attention back on Tesla’s growth and innovation.

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Today, Tesla’s market capitalization is hovering close to its historic peak, with Musk’s 12% ownership stake valued at approximately $191 billion. This figure does not account for billions more tied to his disputed 2018 compensation package, which could add another $133 billion to his net worth if upheld in an ongoing legal appeal.

Tesla’s board is also preparing a fresh pay deal for Musk one that analysts say could potentially unlock stock awards worth up to $1 trillion, depending on the company’s long-term performance.

Expanding Empire Beyond Electric Cars

While Tesla remains Musk’s largest source of wealth, his fortune is increasingly diversified across his sprawling business empire.

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SpaceX: The space exploration company, which has revolutionized commercial rocket launches and is spearheading Mars colonization plans, was valued at $400 billion in a private tender as of August. Musk’s 42% stake is worth an estimated $168 billion.

X and Artificial Intelligence: Musk also holds a controlling 53% stake in xAI Holding, a recently formed entity created after the merger of his AI startup xAI and social media platform X (formerly Twitter). The new company is reportedly valued at around $60 billion.

A Fortune that Redefines Wealth

Musk’s half-trillion-dollar fortune not only highlights the meteoric success of his companies but also underscores the rapid pace at which personal wealth can accumulate in the tech-driven era. His net worth now rivals and in some cases surpasses the annual economic output of entire nations, sparking renewed debates about wealth concentration, inequality, and the influence of billionaire entrepreneurs on global affairs.

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With Tesla’s ambitious expansion plans, SpaceX’s dominance in the aerospace sector, and his aggressive moves into AI and social media, analysts suggest Musk’s fortune could continue to rise potentially putting him on track to become the world’s first trillionaire.

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Gombe LG Polls: APC Sweeps All Seats

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The All Progressives Congress (APC) has emerged victorious in all the 24 chairmanship seats and 240 councillorship positions contested in Saturday’s local government elections in Gombe State.

Chairman of the Gombe State Independent Electoral Commission (GOSIEC), Abdullahi Garba Talasse, who announced the results on Saturday in Gombe, declared that the ruling party won in all the local government councils and Local Council Development Areas (LCDAs) where elections were conducted.

Talasse described the successful conduct of elections in the newly created LCDAs as a milestone in the state’s democratic development, noting that Gombe had expanded from 11 local government councils with 114 councillors to 24 councils and LCDAs with 240 councillors.

He said the commission worked closely with the State House of Assembly to secure the legal backing required for elections to be held in the LCDAs.

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“We did not struggle for the enabling law in vain. Today, we have successfully conducted elections across the 24 councils and LCDAs, which is a significant achievement for the state,” he said.

The GOSIEC chairman attributed the poor showing of opposition parties to their limited participation in the polls.

According to him, the African Congress (AC) fielded candidates in only three chairmanship contests, while the Democratic Liberation Alliance (DLA) contested in six councils.

He added that the New Nigeria People’s Movement (NRM), Youth Party (YP) and Zenith Labour Party (ZLP) each sponsored candidates in three chairmanship elections.

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For councillorship positions, Talasse said AC contested in eight wards, while DLA, NRM, YP and ZLP each fielded candidates in 11 wards.

“That explains why some parties recorded zero votes in several areas because they did not participate across all the councils and wards,” he said.

Talasse explained that although chairmanship results were declared at the various local government collation centres, the commission considered it necessary to present a statewide summary to journalists, observers and the public.

“From the results before the commission, APC has won all the 24 chairmanship seats and all the 240 councillorship positions,” he declared.

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He commended political parties, election observers, civil society organisations, security agencies and other stakeholders for contributing to the peaceful conduct of the elections.

The GOSIEC chairman also appreciated party leaders, government officials, non-governmental organisations and other guests from across the country who monitored the exercise, describing their participation as crucial to the success of the electoral process.

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Ex-President Obasanjo Blames Greed, Carelessness For Global Warming

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Former President of Nigeria, Olusegun Obasanjo, has attributed global warming to human greed, selfishness, and reckless exploitation of the environment, warning that such actions continue to disrupt the natural balance of the ecosystem.

Obasanjo made the remarks in Kano during an event organised in honour of former President of the Nigerian Bar Association, Abubakar Mahmoud, and his Environment and Sustainability Initiative and Trust Fund.

Speaking at the event, Obasanjo acknowledged the reality and growing impact of climate change, stressing that human activities remain a major driver of global warming.

“God created our world in balance, but we, as human beings, out of selfishness and carelessness, have done more harm than good to our environment, and we need to do more in the safekeeping of our environment,” the former president said.

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Obasanjo also revealed that he has personally planted more than 3.5 million trees as part of efforts to combat climate change, stressing that protecting the environment is a collective responsibility and a global public good.

The Kano State Government commended the initiative and pledged its support to ensure its sustainability.

The Commissioner for Environment and Water Resources, Dahiru Hashim, described the initiative as a significant step towards environmental protection and sustainable development.

“In recognition of this laudable initiative, the Kano State Government has approved the donation of 10,000 seedlings for the Mahmoud Environmental and Sustainable Trust,” Hashim said.

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In his remarks, Abubakar Mahmoud said the initiative seeks to promote environmental sustainability and preserve the ecosystem for the benefit of both present and future generations.

“I started a small project that has grown into something quite formidable, providing protection to villages around and to preserving various species of plants,so what we are trying to do is to continue with this legacy,” he said.

The event attracted several dignitaries, including the vice presidential candidate of the Nigeria Democratic Congress (NDC), Rabiu Kwankwaso, former chairman of the Independent National Electoral Commission (INEC), Attahiru Jega, officials of the Kano State Government, and other stakeholders.

Participants at the event called for deliberate and collective action to address climate change and environmental degradation.

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Newborn Baby Rescued From Rubble Of Venezuela Earthquake

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A newborn baby has been rescued from a fallen building 32 hours after the twin earthquakes that devastated a Venezuelan coastal city.

Video shared on social media Friday shows rescuers working under a floodlight atop collapsed masonry and bringing the infant out to applause late Friday in the hardest-hit city of La Guaira, north of the capital Caracas.

They carefully pass the baby, wrapped in a quilt, from person to person before cleaning the child gently with tissues, the video shows.

According to the user, Andreina Quintero, who published the video on social media, the baby was just 18 days old and was uninjured after being trapped for 32 hours.

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The child’s mother was rescued an hour after the child.

In a follow-up video later on Friday, Quintero showed the mother in a hospital bed, with a medical worker telling her that the baby did not appear to have injuries.

The medic then suggests that the mother saved the baby by covering the child with her body or another object.

At least 920 people were killed by back-to-back earthquakes on Wednesday of magnitudes 7.2 and 7.5, and thousands more were injured or remain missing.

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The United Nations estimated on Saturday that close to seven million people may have been impacted by the twin earthquakes in Venezuela, which have killed nearly 1,000 people and left tens of thousands missing.

The UN migration agency said it had examined available population and damage data and had determined that “up to 6.76 million people could be affected by the devastating earthquakes that struck Venezuela on 24th June”.

The projections, which include up to two million people in Caracas alone, “highlight the potentially vast humanitarian impact of the disaster,” the International Organisation for Migration (IOM) warned in a statement.

Entire buildings have crumbled in La Guaira, located to the north of Caracas, following the devastating twin tremors.

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