New York:
Elon Musk has achieved yet another extraordinary milestone. On Wednesday, the Tesla CEO became the first person ever to reach a net worth of nearly $500 billion, according to Forbes. His fortune now stands at $500.1 billion, as tracked by Forbes’ Real-Time Billionaires tracker. Musk had previously crossed the $400 billion mark last December, becoming the first individual in history to reach that milestone. Musk is $150 billion ahead of runner-up Larry Ellison and close to becoming the world’s first trillionaire.
Tesla not only contributor to Musk’s half-trillion-dollar fortune
Tesla shares rose nearly 4% by 3:30 pm ET on Wednesday, boosting Musk’s net worth by an estimated $9.3 billion. With the company’s market capitalization returning to within 10% of its December all-time high, Musk’s 12% stake in Tesla is now valued at $191 billion.
Tesla is not the only contributor to Musk’s half-trillion-dollar fortune. His rocket company, SpaceX, founded in 2002, is now valued at $400 billion based on a private tender offer in August, up from $350 billion last December. Musk holds an estimated 42% stake in SpaceX, worth around $168 billion. Additionally, his artificial intelligence venture, xAI Holdings, formed in March by merging xAI with the social media platform X (formerly Twitter), is valued at $113 billion, with Musk owning approximately 53% of the company, worth $60 billion.
Musk could become world’s first trillionaire
Reaching a net worth of $500 billion is just the latest milestone in Elon Musk’s extraordinary wealth journey over the past five years. In March 2020, his net worth was just $24.6 billion. By August 2020, soaring Tesla shares propelled him to become the fifth person in history worth $100 billion. In January 2021, Musk became the world’s richest person for the first time, with nearly $190 billion. By September 2021, he joined the exclusive $200 billion club, alongside Amazon’s Jeff Bezos and LVMH’s Bernard Arnault. Musk’s wealth milestones continued with $300 billion in November 2021 and $400 billion in December 2024.
If this trajectory continues, Musk could become the world’s first trillionaire by March 2033, coinciding with the first of two vesting dates for his $1 trillion Tesla pay package. However, Musk has stated that the award isn’t motivated by money.
