Elon Musk’s Net Worth Hits $500 Billion, Becomes First Person in History to Reach Half a Trillion

Elon Musk has set yet another world record, becoming the first individual in history to cross the $500 billion net worth milestone. The Tesla and SpaceX boss, already the world’s richest man, saw his fortune soar on Wednesday after a fresh surge in Tesla shares, according to Forbes’ Real-Time Billionaires index.

The 4% rise in Tesla’s stock added more than $9 billion in a single afternoon to Musk’s wealth, lifting him far ahead of his closest rival, Oracle co-founder Larry Ellison, whose net worth sits around $350 billion. Musk’s fortune now stands almost $150 billion higher than Ellison’s, cementing his dominance at the very top of the global wealth ladder.

Tesla’s meteoric stock rally has been a major driver of this milestone. The company’s market value has nearly doubled since April, following Musk’s decision to scale back his political role in the U.S. government and refocus on Tesla. His 12% stake in the company is currently worth about $191 billion, excluding billions more in stock options. A proposed new Tesla compensation package could push his earnings even further, potentially granting him stock valued at over $1 trillion under certain performance targets.

Beyond Tesla, Musk’s wealth is spread across a powerful business empire. His space exploration company, SpaceX, was valued at $400 billion in August, with Musk’s 42% stake estimated at $168 billion. He also controls 53% of xAI Holding, a merger of his AI startup xAI and social media platform X (formerly Twitter), valued at about $60 billion. These holdings have created multiple streams of wealth, ensuring his fortune isn’t tied to a single company.

Musk’s financial journey is nothing short of extraordinary. In March 2020, he was worth just $24.6 billion. By the end of 2021, he had surged past $300 billion, and in 2024, he became the first person to hit $400 billion. Now, just one year later, he has smashed another barrier at half a trillion. If his current trajectory continues, financial analysts suggest Musk could be on track to become the world’s first trillionaire by the early 2030s—though Musk himself often dismisses the obsession with his net worth.

source: nairametrics