Elon Musk Shatters Wealth Records, Becomes First Person Worth $500 Billion
Elon Musk Shatters Wealth Records, Becomes First Person Worth $500 Billion
In an unprecedented financial achievement, Elon Musk reached a staggering $500 billion net worth on Wednesday, marking him as the first individual in history to cross the half-trillion-dollar threshold. The milestone, tracked by Forbes’ Real-Time Billionaires, solidifies his position as the world’s wealthiest person, significantly outpacing his closest competitors and setting his sights on becoming the planet’s first trillionaire.
Musk’s fortune surged largely due to a nearly 4% climb in Tesla shares on Wednesday, adding an estimated $9.3 billion to his wealth. This boost reflects investor confidence following Musk’s announcement in April to step back from his government role and dedicate more time to the EV giant. His 12% stake in Tesla now stands at $191 billion, with the company’s market capitalization nearing its all-time high.
Beyond Tesla, Musk’s other ventures are substantial contributors. His aerospace company, SpaceX, is valued at $400 billion as of an August tender offer, with Musk holding an estimated 42% stake worth $168 billion. Additionally, his recently formed xAI Holdings, a merger of his AI company xAI with X (formerly Twitter) in March, adds another $60 billion from his estimated 53% ownership.
This latest milestone is part of a rapid ascent for Musk, who was worth $24.6 billion in March 2020 and hit $400 billion in December 2024. With a proposed record-breaking Tesla pay package potentially offering him up to $1 trillion in additional stock if ambitious performance targets are met, the prospect of Musk becoming the world’s first trillionaire before 2033 appears increasingly plausible. Musk, however, maintains that his motivation extends beyond mere compensation, aiming to ensure his influence over Tesla’s future direction, particularly concerning its AI and robotics ambitions.
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