Elon Musk has become the first person to reach an estimated net worth of $500 billion, according to Forbes. Most of his wealth is tied to shares in Tesla, the electric‑car maker, and SpaceX, the aerospace firm. Musk’s net worth is roughly $150 billion more than that of Larry Ellison, the co‑founder of Oracle. Forbes initially pegged Musk’s wealth at $500 billion but later adjusted the figure to $499.1 billion. Estimating his fortune is difficult because many of his companies are not publicly traded, making their valuations uncertain.
Musk first crossed the $400 billion threshold in December 2024, buoyed by speculation that Tesla would benefit from his connections to the U.S. government and from the policies of the newly elected president. However, the relationship between Musk and the government later soured, contributing to a decline in Tesla’s sales. Some potential buyers were put off by Musk’s political views and his involvement in government cost‑cutting measures.
Despite these setbacks, Tesla’s stock has rebounded, driven by growth expectations in robotics and automation. The company is also poised to benefit from a surge in sales ahead of the expiration of federal electric‑vehicle incentives in late September. Musk’s portfolio includes other notable ventures such as the social‑media platform X, AI developer xAI, and neural‑implant company Neuralink, but Tesla remains the core of his fortune.
Tesla has announced a compensation plan that could be worth $1 trillion, contingent on achieving significant market‑value growth and meeting other performance conditions. The plan requires Musk to remain as chief executive and to hit specific targets. This development reinforces his standing as a leading figure in the technology and automotive industries. As the global economy evolves, Musk’s net worth and business activities will likely continue to attract close scrutiny.
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