Elon Musk Becomes First Person Worth $500 Billion

NEW YORK, NY — Elon Musk has reached a historic milestone, becoming the first person ever to have a net worth of $500 billion as of Wednesday afternoon, according to Forbes. Musk, the CEO of Tesla, achieved this benchmark following a nearly 4% rise in Tesla’s stock price, which added an estimated $9.3 billion to his fortune.

Musk’s wealth has soared over recent months, positioning him $150 billion ahead of the second-richest person, Larry Ellison, co-founder of Oracle. Musk first surpassed the $400 billion mark in December 2024 amidst a wave of investor support for Tesla.

The electric vehicle company’s market capitalization has returned to within 10% of its all-time high, and Musk’s 12% share of Tesla is now valued at $191 billion, excluding performance-based stock options from his CEO compensation package that could be worth much more.

In addition to Tesla, Musk’s fortune is heavily influenced by other ventures, including SpaceX, which he founded in 2002. The rocket company is valued at $400 billion based on a recent offer, with Musk holding a 42% stake worth $168 billion. His interest in xAI Holdings, a company created through a merger with X (formerly Twitter), is estimated at $60 billion.

Over the past five years, Musk’s net worth has increased dramatically from just $24.6 billion in March 2020. He became the richest person in the world in August 2020, with significant jumps following each milestone he achieved since then.

If he maintains this upward trend, experts suggest Musk could become the world’s first trillionaire by March 2033, coinciding with the vesting of his aforementioned Tesla pay package. Despite this monumental financial success, Musk has stated that his focus is not on money but rather on influencing the future of Tesla safely.