Musk’s $681B Net Worth Surges to Double Larry Page’s Following Tesla Stock Boom

Elon Musk’s net worth has surged to an astonishing $681 billion, more than double that of the next closest billionaire, Larry Page, co-founder of Google, who stands at $249 billion. This remarkable increase is largely attributed to a significant rise in Tesla’s stock price.

According to the Forbes Real-Time Billionaires List, Musk’s wealth has expanded as he solidifies his position as the world’s richest individual. Following Page, the top five billionaires include Amazon founder Jeff Bezos at $239 billion, Google co-founder Sergey Brin at $229.9 billion, and Oracle co-founder Larry Ellison at $229.6 billion.

MUSK PREDICTS AI WILL CREATE ‘UNIVERSAL HIGH INCOME’ AND MAKE SAVING MONEY UNNECESSARY

Tesla CEO Elon Musk widened his lead as the world’s wealthiest person as the EV maker’s stock surged. (Chesnot/Getty Images)

This week, Tesla stock reached a new record closing high, marking its first significant increase since December 17, 2024. The stock’s rise was fueled by Musk’s announcement that Tesla is testing its robotaxis without safety monitors in the front passenger seat.

ELON MUSK’S TESLA FACES FRESH CRITICISM FROM ‘BIG SHORT’ INVESTOR MICHAEL BURRY

Additionally, Tesla’s stock received a boost from the California Department of Motor Vehicles (DMV), which decided to pause a 30-day sales suspension. This suspension was initially imposed after regulators deemed Tesla’s marketing of its self-driving technology misleading, as it requires supervision and is not fully autonomous.

The DMV has extended the suspension delay by 90 days, allowing Tesla time to address the concerns. A separate suspension of its manufacturing license has also been put on hold indefinitely.

TESLA SHAREHOLDERS APPROVE MUSK’S $1T PAY PACKAGE

Tesla stock has surged to the highest levels in a year in recent weeks. (John Paraskevas/Newsday RM via Getty Images)

DMV Director Steve Gordon stated that the regulator’s current focus is on the term “Autopilot,” as Tesla has taken steps to address concerns regarding the term Full-Self Driving.

Tesla’s Autopilot feature assists vehicles in accelerating, braking, and maintaining lane position on highways, while the Full-Self Driving feature enables lane changes and traffic signal compliance in urban areas.

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The company is now incorporating the term “Supervised” in its descriptions of the Full-Self Driving feature in passenger vehicles. An unsupervised version of the software is utilized for moving cars from assembly lines to delivery lots at certain factories. Additionally, the Full-Self Driving feature is employed for a robotaxi service in Austin, Texas, where human safety monitors are present in the front passenger seats along with remote support.

Reuters contributed to this report.

Elon Musk’s net worth has surged to an astonishing $681 billion, more than double that of the next closest billionaire, Larry Page, co-founder of Google, who stands at $249 billion. This remarkable increase is largely attributed to a significant rise in Tesla’s stock price.

According to the Forbes Real-Time Billionaires List, Musk’s wealth has expanded as he solidifies his position as the world’s richest individual. Following Page, the top five billionaires include Amazon founder Jeff Bezos at $239 billion, Google co-founder Sergey Brin at $229.9 billion, and Oracle co-founder Larry Ellison at $229.6 billion.

MUSK PREDICTS AI WILL CREATE ‘UNIVERSAL HIGH INCOME’ AND MAKE SAVING MONEY UNNECESSARY

Tesla CEO Elon Musk widened his lead as the world’s wealthiest person as the EV maker’s stock surged. (Chesnot/Getty Images)

This week, Tesla stock reached a new record closing high, marking its first significant increase since December 17, 2024. The stock’s rise was fueled by Musk’s announcement that Tesla is testing its robotaxis without safety monitors in the front passenger seat.

ELON MUSK’S TESLA FACES FRESH CRITICISM FROM ‘BIG SHORT’ INVESTOR MICHAEL BURRY

Additionally, Tesla’s stock received a boost from the California Department of Motor Vehicles (DMV), which decided to pause a 30-day sales suspension. This suspension was initially imposed after regulators deemed Tesla’s marketing of its self-driving technology misleading, as it requires supervision and is not fully autonomous.

The DMV has extended the suspension delay by 90 days, allowing Tesla time to address the concerns. A separate suspension of its manufacturing license has also been put on hold indefinitely.

TESLA SHAREHOLDERS APPROVE MUSK’S $1T PAY PACKAGE

Tesla stock has surged to the highest levels in a year in recent weeks. (John Paraskevas/Newsday RM via Getty Images)

DMV Director Steve Gordon stated that the regulator’s current focus is on the term “Autopilot,” as Tesla has taken steps to address concerns regarding the term Full-Self Driving.

Tesla’s Autopilot feature assists vehicles in accelerating, braking, and maintaining lane position on highways, while the Full-Self Driving feature enables lane changes and traffic signal compliance in urban areas.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The company is now incorporating the term “Supervised” in its descriptions of the Full-Self Driving feature in passenger vehicles. An unsupervised version of the software is utilized for moving cars from assembly lines to delivery lots at certain factories. Additionally, the Full-Self Driving feature is employed for a robotaxi service in Austin, Texas, where human safety monitors are present in the front passenger seats along with remote support.

Reuters contributed to this report.