Elon Musk becomes first person to reach $500 billion fortune
Elon Musk has reached an extraordinary new milestone, becoming the first individual in recorded history to amass a personal fortune of $500 billion, according to Forbes’ Real-Time Billionaires tracker.
The Tesla and SpaceX chief executive’s net worth crossed the half-trillion-dollar mark on Wednesday (US Eastern Time), placing him approximately $150 billion ahead of Larry Ellison in second place, who is the co-founder of Oracle.
Musk’s wealth surged following a nearly 4% rise in Tesla’s share price on Wednesday, which alone added an estimated $9.3 billion to his personal fortune. The electric vehicle maker’s stock has nearly doubled since April, when Musk announced plans to scale back his role leading former President Trump’s Department of Government Efficiency (DOGE) to refocus on Tesla operations.
His 12% stake in Tesla is now worth roughly $191 billion, not including a portion of performance-based share options from his 2018 CEO compensation package, estimated to be worth $133 billion if not for a legal dispute. These options were voided by a Delaware judge in early 2024, though Musk is currently appealing the ruling, according to media reports.
Meanwhile, Tesla’s board last month proposed a new record-breaking compensation package for Musk, potentially worth up to $1 trillion. The deal would see him unlock further shares, amounting to 12% of the company, should Tesla achieve big milestones, including an eightfold increase in market capitalisation over the next decade.
Beyond Tesla, Musk’s financial ascent is bolstered by the skyrocketing valuations of his other ventures. SpaceX, the private space exploration company Musk founded in 2002, was valued at $400 billion in a recent private tender offer. Musk owns approximately 42% of the company, translating to a personal stake worth around $168 billion.
Also contributing is xAI Holdings, a recently merged entity combining Musk’s artificial intelligence startup, xAI, and social media platform X (formerly Twitter). Formed earlier this year, the company is valued at $113 billion, with Musk holding an estimated 53% stake worth $60 billion.
The half-trillion-dollar milestone is the latest in a series of financial leaps for Musk, whose net worth stood at just $24.6 billion in March 2020. He had hit the $400 billion mark in December 2024. If current trends continue, he could become the world’s first trillionaire before 2033, when the first portion of the new Tesla pay package is due to be granted.