MxM News

Quick Hit:

Pope Leo praised President Trump’s 20-point peace plan for Gaza, urging Hamas to accept the deal that promises a ceasefire, the return of hostages, and new international oversight. Trump unveiled the plan during Israeli Prime Minister Benjamin Netanyahu’s visit to the White House.

Key Details:

• Pope Leo said the plan has “very interesting elements” and expressed hope Hamas will accept it.
• The plan calls for Hamas to disarm, Israel to withdraw to agreed lines, and aid to surge into Gaza.
• A “Board of Peace” led by Trump, including Tony Blair, would oversee Gaza’s transition.

Diving Deeper:

Pope Leo publicly praised President Trump’s new 20-point peace plan for Gaza on Tuesday, calling it a potential breakthrough in a conflict that has claimed tens of thousands of lives. “I hope Hamas will accept it within the established timeframe,” the pope said, noting the proposal includes “very interesting elements.”

The plan was unveiled Monday at the White House during Israeli Prime Minister Benjamin Netanyahu’s visit. Notably absent from the talks was Hamas, which has long rejected demands to disarm but has said it will review Trump’s proposal “in good faith” before issuing a formal response.

Trump’s initiative outlines an immediate ceasefire if both sides agree, the withdrawal of Israeli forces to “the agreed upon line,” and a massive increase in humanitarian aid for Gaza, where more than 66,000 Palestinians have been killed since October 7, 2023. Within 72 hours of acceptance, all hostages—alive or dead—would be returned, and hundreds of Palestinian prisoners would be released.

Gaza would then be governed by a transitional committee of Palestinian and international experts, with oversight from a newly formed international body called the “Board of Peace.” Trump himself would chair the board, alongside figures such as former British Prime Minister Tony Blair. Israel, along with regional players including the United Arab Emirates, has already endorsed the plan. Hamas remains the lone holdout.

Speaking Tuesday, Trump made clear that rejection by Hamas would carry consequences: “If Hamas rejects the deal, Netanyahu would have my full backing to do what you would have to do.”

MxM News

Quick Hit:

Elon Musk on Wednesday became the first person in history to hit a $500 billion net worth, according to Forbes. The Tesla, SpaceX, and xAI founder’s fortune now sits roughly $150 billion ahead of Oracle co-founder Larry Ellison, with Tesla’s surging stock and SpaceX’s record valuation driving the leap.

Key Details:

• Forbes reported Musk’s net worth crossed the $500 billion mark around 3:30 p.m. ET, fueled by Tesla’s nearly 4% stock gain Wednesday — adding roughly $9.3 billion to his wealth.
• Musk’s fortune has grown from $24.6 billion in March 2020 to $100 billion by late 2020, $200 billion in 2021, $400 billion in 2024, and now $500 billion.
• Tesla shares have nearly doubled since April, when Musk said he would step back from his role leading President Trump’s Department of Government Efficiency (DOGE) to focus on Tesla. The EV maker’s market cap is now within 10% of its all-time high, with Musk’s 12% stake worth about $191 billion.

Elon Musk achieved yet another major milestone Wednesday, becoming the first ever person worth $500 billion. Musk, who became the first person ever worth $400 billion or more in December, is $150 billion ahead of runner-up Larry Ellison—and half-way to becoming the world’s first… pic.twitter.com/h9LJmAvT7F

— Forbes (@Forbes) October 1, 2025

Diving Deeper:

Elon Musk made history Wednesday as the first individual ever to surpass a $500 billion personal net worth, according to a report from Forbes. The Tesla and SpaceX CEO’s fortune crossed the milestone in mid-afternoon trading, following another surge in Tesla’s share price and continuing investor confidence in Musk’s technology empire.

Tesla stock jumped nearly 4% Wednesday, pushing the company’s valuation closer to its all-time high. Forbes estimates Musk’s 12% stake in Tesla alone is worth about $191 billion. The remainder of his wealth comes from SpaceX — currently valued at around $400 billion — and his artificial intelligence firm xAI, worth roughly $60 billion.

Musk’s rise in wealth has been staggering. In March 2020, he was worth $24.6 billion. By late 2020, he had crossed the $100 billion threshold, reaching $200 billion in 2021 and $400 billion last year. His $500 billion milestone now puts him more than $150 billion ahead of the world’s second-richest person, Oracle co-founder Larry Ellison.

In a post on X last month, Musk said his compensation and influence over Tesla were not about money, but control over the company’s direction: “It’s not about ‘compensation,’ but about me having enough influence over Tesla to ensure safety if we build millions of robots,” he wrote. “If I can just get kicked out in the future by activist shareholder advisory firms who don’t even own Tesla shares themselves, I’m not comfortable with that future.”

According to Forbes, Tesla’s board recently proposed a new compensation plan for Musk worth as much as $1 trillion — the largest package ever offered to a corporate executive. The plan would grant Musk up to 12% of Tesla’s stock if the company hits a $8.5 trillion market cap and other performance milestones over a decade.

At his current trajectory, analysts suggest Musk could become the world’s first trillionaire by 2033 — an outcome that seemed unthinkable just five years ago. As Musk continues to balance his leadership at Tesla, SpaceX, and xAI, his financial empire appears to be expanding as rapidly as the industries he dominates.