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Elon Musk Breaks Record With $600bn Net Worth Milestone

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Elon Musk has shattered global wealth records after becoming the first person in history to surpass a net worth of $600 billion, with Forbes now estimating his fortune at $677 billion.

The historic milestone is largely fueled by the dramatic rise in the valuation of Musk’s private space exploration company, SpaceX.

Earlier this month, the company completed a tender offer that valued it at $800 billion, doubling its previous valuation of $400 billion recorded in August, according to investors familiar with the transaction.

SEE MORE: EU Cracks Down On Big Tech, Fines Elon Musk’s X €120m Under DSA

Musk holds approximately 42 per cent ownership in SpaceX, and the revised valuation alone added an estimated $168 billion to his personal wealth.

Forbes now values his SpaceX stake at $336 billion, making it his single most valuable asset.

The tender offer has also intensified speculation around a potential SpaceX initial public offering (IPO) in 2026.

Analysts believe such a move could value the company at up to $1.5 trillion, potentially positioning Musk as the world’s first trillionaire if market conditions remain favorable.

Beyond SpaceX, Musk’s wealth is supported by his 12 per cent stake in electric vehicle giant Tesla, currently valued at about $197 billion.

His controversial Tesla stock options from a 2018 CEO performance deal—voided by a Delaware court in January 2024—are estimated to be worth $69 billion, pending the outcome of an appeal.

Musk’s artificial intelligence firm, xAI, has also emerged as a major contributor to his fortune.

The company is reportedly raising funds at a valuation of $230 billion, more than double its earlier valuation following its merger with social media platform X.

Musk owns 53 per cent of xAI, with his stake valued at roughly $60 billion.

According to Forbes, Musk now leads the world’s second-richest person, Google co-founder Larry Page, by an estimated $425 billion, placing him closer to a $700 billion net worth than to losing his position at the top of the global rich list.

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Deadly Fire Engulfs Kenyan Girls’ School Dorm, 16 Confirmed Dead

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A devastating fire has swept through a girls’ boarding school in central Kenya, leaving at least 16 students dead and dozens more injured in one of the country’s worst school tragedies in recent years.

The incident occurred in the early hours of Thursday at Utumishi Girls Academy, located in Nakuru County, roughly 120 kilometres north of Nairobi. Authorities said the fire broke out around 1:00 a.m. while about 220 students were asleep inside the dormitory.

ALSO READ: Over 1,000 Kenyans Tricked Into Fighting For Russia In Ukraine

Emergency responders, including the Kenyan Red Cross and local security agencies, rushed to the scene and evacuated survivors.

At least 73 students have been hospitalised with varying degrees of burns and smoke inhalation, while rescue operations and search efforts continued into the morning.

Police sources said the cause of the fire remains unknown, and investigations have been launched to determine what triggered the deadly blaze.

The affected dormitory has since been cordoned off as forensic teams examine the scene.

Parents gathered anxiously outside the school as authorities worked to account for all students. Officials have urged calm, assuring that full details will be released once investigations are completed.

The tragedy adds to a troubling history of school dormitory fires in Kenya, where boarding schools remain common.

In previous years, similar incidents have raised serious concerns about safety standards and emergency preparedness in educational institutions.

Government officials are expected to revisit school safety regulations following the latest disaster.

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New US Strike on Iran Sends Oil Prices Soaring as Middle East Tensions Escalate

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Global oil prices climbed sharply on Thursday following reports of a new United States military strike on Iran, raising fresh concerns over stability in the Middle East and possible disruptions to global energy supplies.

Brent crude rose significantly in early trading, while West Texas Intermediate also recorded gains as investors reacted to renewed hostilities and uncertainty around the fragile ceasefire in the region.

ALSO READ: Renewed US-Iran Tensions Drag Oil Price Northwards

According to reports, the latest US action included targeted strikes on Iranian positions following a series of drone and maritime incidents in and around the Strait of Hormuz.

The US military described its operations as “measured and defensive,” aimed at preventing further escalation and protecting strategic interests in the region.

The developments triggered immediate reactions across global financial markets, with Asian stocks mostly declining amid fears that prolonged conflict could disrupt oil shipments through the Strait of Hormuz — a critical route for nearly a fifth of global crude supply.

Market analysts warn that sustained instability could push energy prices even higher, fueling inflationary pressures worldwide and potentially forcing central banks to maintain tighter monetary policies.

In Asia, major indices recorded losses, while tech-driven gains in select markets were overshadowed by broader investor caution. Safe-haven assets strengthened slightly as traders moved away from riskier positions.

Economists say the situation remains highly volatile, with conflicting signals from Washington and Tehran adding to uncertainty.

Any further escalation, they caution, could send oil prices even higher and deepen global economic pressure.

For now, investors are closely watching diplomatic developments and military activity in the region, as the world braces for possible further shocks to energy markets.

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U.S. Issues Highest-Level Travel Warning for Uganda Over Deadly Ebola Outbreak

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The United States has issued its strongest travel advisory against Uganda, warning citizens to completely avoid travel to the country due to an ongoing outbreak of Ebola virus disease.

In the updated alert, the United States Department of State upgraded Uganda’s travel status to Level 4, the highest risk classification, which is widely understood as a “Do Not Travel” warning.

The decision was based on serious health threats and the rapid spread of the virus in affected areas.

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Authorities also warned of the risk of cross-border transmission, noting that continued movement across neighbouring countries could worsen the situation despite ongoing containment efforts.

Previously, the Centers for Disease Control and Prevention had placed Uganda under a lower-level health advisory, advising travellers to take standard precautions.

However, a surge in infections and deteriorating conditions led to the tightening of restrictions.

Meanwhile, Ugandan authorities have stepped up emergency response measures, including stricter border surveillance, movement restrictions in affected zones, and reductions in public transportation and market activities in high-risk areas.

Health agencies remain on high alert as the outbreak continues to raise concern over possible regional spread across East Africa.

 

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