Tesla CEO Elon Musk boards Air Force One with U.S. President Donald Trump (not pictured) as they departs for Philadelphia, Pennsylvania, from Morristown Municipal Airport in Morristown, New Jersey, U.S., March 22, 2025.
Nathan Howard | Reuters
Elon Musk on Wednesday grew to become the primary particular person to surpass $500 billion in net worth, powered by a rebound in Tesla’s share worth this 12 months and swelling valuations of his different tech ventures.
The milestone comes slightly below a 12 months after Musk’s net worth crossed $400 billion and underscores his lead because the world’s richest particular person.
Musk’s fortune briefly hit $500 billion on Wednesday, earlier than settling at $499.1 billion at 5 p.m. ET, in response to Forbes’ billionaires index.
His wealth is tied intently to his about 12% stake in Tesla, the world’s most beneficial automaker. The electric-vehicle maker’s inventory has climbed about 14% to date this 12 months after a uneven begin.
Musk final month disclosed his buy of about $1 billion worth of Tesla shares, in what was seen as a vote of confidence as the corporate races to transition from an automaker to an AI and robotics powerhouse.
The carmaker’s board final month proposed a $1 trillion compensation plan for Musk, setting out lofty monetary and operational targets for the CEO whereas additionally addressing his calls for for an even bigger stake within the firm.
The bundle is the most important ever supplied to a company government and traders count on the pay plan to deepen Musk’s give attention to Tesla at a time when he has juggled commitments throughout a number of ventures.
The inventory has risen 35.7% because the bundle was disclosed on September 5.
From autos to aerospace to AI
His ventures, through the years, have given Musk an outsized sway over know-how industries, from electrical vehicles and clear power to satellite tv for pc communications and synthetic intelligence.
Musk’s AI startup xAI and rocket firm SpaceX have additionally scaled their valuations this 12 months and are reportedly elevating funds at $200 billion and $400 billion valuations, respectively.
The AI startup, valued at $75 billion in July, is increasing a supercomputer, dubbed “Colossus”, to coach large-scale fashions as its Grok chatbot seeks to rival established gamers corresponding to OpenAI’s ChatGPT and Google’s Gemini.
SpaceX has cemented its dominance within the industrial area sector, working the world’s largest satellite tv for pc community via Starlink whereas capturing the majority of U.S. launch contracts.
The firm additionally persistently launches essentially the most rockets on this planet, often serving the International Space Station and carrying satellites for rival networks.
Oracle founder Larry Ellison follows Musk because the second-richest particular person on Forbes’ record, with a net worth of about $350.7 billion as of Wednesday.