Elon Musk has become the first person to reach a net worth of $500bn, bringing the Tesla chief executive halfway to trillionaire status.
Musk’s wealth temporarily crossed the half-trillion mark on Wednesday before retreating to $499bn, according to the Forbes billionaires list.
Musk owns 12% of Tesla, which is worth more than $1.5tn, and his wealth has been boosted this year by surge in the electric carmaker’s share price.
People are buying only because it’s a growth stock. Eventually enough people will get nervous and cause a stampede. Lots of owners are going to left holding the bag, an empty bag.
Maybe, but that’s a really bad way to trade stock.