Elon Musk Becomes First Person Worth $500 Billion
Elon Musk has officially become the world’s first person to reach a net worth of $500 billion, according to Forbes’ Real-Time Billionaires tracker. The Tesla and SpaceX CEO briefly hit $500.1 billion on Wednesday before dipping slightly, staying well ahead of second-place Larry Ellison, now worth $350.7 billion.
The surge in Musk’s wealth is largely tied to Tesla’s rising stock, which jumped nearly 4% on Wednesday, adding over $9 billion to his fortune. Investors have responded positively to Musk’s renewed focus on the EV maker after Musk stepped back from his role in the Trump administration’s Department of Government Efficiency earlier this year.
His other ventures are also playing a big role. Musk owns 42% of SpaceX, now worth an estimated $400 billion, and holds a 53% stake in xAI Holdings—his AI startup merged with social media platform X (formerly Twitter)—valued at $113 billion. Together, those holdings are worth more than $220 billion.
Musk’s rise has been rapid. Just four years ago, he was worth under $25 billion. He first passed the $100 billion mark in August 2020 and reached $400 billion by December 2024. At this pace, some analysts believe he could become the world’s first trillionaire by 2033.
Tesla’s board has proposed a new pay package worth up to $1 trillion if Musk hits massive performance goals like selling a million AI robots and multiplying the company’s market cap by eight. Musk insists the package is about control, not cash. “It’s not about ‘compensation’, but about me having enough influence over Tesla to ensure safety if we build millions of robots,” he wrote on X.
Musk’s meteoric rise hasn't come without controversy—from court battles over voided stock awards to criticism over his political views and Tesla’s performance. But with multiple businesses booming, his path toward even greater wealth seems far from over.
