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Musk Becomes First Person On Planet Earth Ever to Reach $500 bn Fortune
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.
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.
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.
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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2027: Obi, Igbo leaders, consult with Jonathan in a closed-door meeting in Abuja
The frontline Presidential aspirant for 2027 and the 2023 presidential candidate of the Labour Party, Mr Peter Obi, on Monday led top Igbo leaders to the, Maitiama Abuja home of former President Goodluck Jonathan.
The meeting lasted for about two hours and was attended by some South East leaders, including former Enugu State governor, Dr Okwesilize Nwodo, his Imo State counterpart, Chief Achike Udenwa, former Managing Director of the Niger Delta Development Commission (NDDC), Chief Onyema Ugochukwu, Senators Ben Obi and Victor Umeh, among others.
Obi who spoke to journalists after the meeting, disclosed that it was in continuation of consultations with former national leaders in the country regarding his presidential ambition.
The former Labour Party candidate is seeking the ticket of the African Democratic Congress (ADC), saying they have not yet come for endorsement but for consultations and exchange of views.
Obi explained that the meeting was part of his consultations with former leaders.
“We need to consult them, especially someone like him (Jonathan) who served the country very faithfully, focused, and did what is expected in a democracy. In this declining situation, you consult him,” he said.
Obi had earlier visited former President Olusegun Obasanjo and Ibrahim Babangida, among others, as part of his engagements with former Nigerian leaders.
He refused to disclose in detail, the outcome of the meeting, but simply added that Jonathan wished the country well.
“He wished that we had a free, fair, credible election.
“There can’t be a one-party system. He cannot support such a thing. Nobody can claim to be more of a democrat in this country than Jonathan,” Obi said.
He however stated that the former president has not endorsed him for president in 2027 because he has not come for that.
“We’re not talking about an endorsement yet. When I become a candidate, I’ll come back for endorsement. He wishes the country well. We are here to consult with him,” he added.
News
Peace, Reconciliation Only Path To Progress In Ogoni land — Badey
Mr. Suage Badey, son of late Chief Albert Badey, former Secretary to the Rivers State Government, says peace and reconciliation remain the only pathway to sustainable development in Ogoni land.
Badey made the assertion on Saturday in Port Harcourt at the 90th posthumous birthday celebration of his father, alongside the unveiling of the Albert Badey Centre for Development and its inaugural lecture.
He said that the era of grievances and acrimony in Ogoni land should give way to unity and collective progress.
“This is the time to move forward. We have no more grudges in our hearts. There is no need for continuous acrimony,” he said.
Badey urged Ogoni leaders to embrace dialogue in resolving differences, stressing that unity was critical to the advancement of the people.
“As we move into peace, the lives of those committed to this course should not be endangered,” he added.
In case you had forgotten, Chief Albert Badey and three other prominent Ogoni leaders were killed on May 21, 1994, during a meeting at Giokoo in Gokana Local Government Area of Rivers.
Badey described his late father as a committed public servant who contributed significantly to the development of Ogoni land.
He said his father played key roles in the creation of four local government areas for the Ogoni people and the siting of a state polytechnic in Bori.
“If my father were alive, he would have called for forgiveness, even for those who took his life,” he said.
Badey said the establishment of the Albert Badey Centre for Development was aimed at immortalising his father and promoting development initiatives in the area.
“This project is inspired by his sacrifices and dedication to the people,” he said.
News
Court Grants Accelerated Hearing In Trial Of Alleged Coup Plotters
The court fixed April 29, April 30, May 4, and May 5 for the commencement of trial proceedings and the hearing of bail applications filed by the defendants.
Justice Joyce Abdulmalik of the Federal High Court, Abuja, has granted an accelerated hearing in the trial of six suspects accused of plotting to overthrow President Bola Tinubu’s administration.
The court fixed April 29, April 30, May 4, and May 5 for the commencement of trial proceedings and the hearing of bail applications filed by the defendants.
During proceedings, the Attorney General of the Federation, Lateef Fagbemi, SAN, informed the court that the prosecution had witnesses available, subject to the convenience of the court.
Counsel for the first defendant, Mohammed Ilayepo, indicated that his client’s bail application was due for a hearing.
Justice Abdulmalik, however, ruled that the trial would commence before any bail applications were considered.
Counsel for the second, third, and sixth defendants, Paul Erokoro, A. I. Yeru, and N. S. Diri, respectively, expressed reservations about their readiness to proceed, citing the short notice given to them and the complex nature of the case.
Justice Abdulmalik then directed all counsel to agree on dates suitable for a speedy trial.
The court subsequently fixed the hearing dates for the accelerated trial.
The Federal Government had last Wednesday arraigned the suspects.
The defendants, including Major General Ibrahim Gana (retd), who was in a wheelchair; retired naval captain Erasmus Victor, Inspector Ahmed Ibrahim, Zekeri Umoru, Bukar Goni, and Abdulkadir Sani, pleaded not guilty to the 13-count charge when it was read in their hearing.
Following their plea of not guilty, Fagbemi asked that they be remanded in the custody of the Department of State Services (DSS) and for an expeditious trial.
Justice Abdulmalik, therefore, ordered an accelerated trial and that the defendants be placed in the custody of the DSS.
The case was adjourned to April 27 for trial and an accelerated hearing.
The government filed a 13-count charge against the suspects last Tuesday before the court against the suspects.
Also listed in the charge, but said to be at large, was a former Minister of Petroleum, Timiprye Sylva.
The charge, filed by the Office of the Attorney-General of the Federation and signed by the Director of Public Prosecutions, Rotimi Oyedepo (SAN), accused the defendants of offences ranging from alleged treason and terrorism to failure to disclose security intelligence and money laundering linked to terrorism financing.
The prosecution alleged that the defendants conspired in 2025 “to levy war against the state to overpower the President of the Federal Republic of Nigeria,” an offence punishable under Section 37(2) of the Criminal Code.
Earlier, journalists were barred from covering the trial of six alleged coup plotters, raising concerns about the transparency in handling the matter.
Judiciary correspondents were on Monday left uncertain about developments in the case, particularly as the suspects’ bail application was pending before the court.
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