Elon Musk, the chief executive of Tesla and SpaceX, has become the first person to reach a net worth of $500 billion, according to Forbes. The milestone stems from a recent surge in Tesla shares and soaring valuations of his private firms. A 4 % jump in Tesla stock added $9.3 billion to Musk’s wealth, bringing his net worth to $500.1 billion. His 12 % stake in Tesla is now valued at $191 billion, while SpaceX was appraised at $400 billion in an August tender offer. Musk also controls 53 % of xAI Holdings, which is currently valued at $113 billion.
Analysts attribute the rapid increase in Musk’s fortune to his renewed focus on business after stepping down from his role as head of the U.S. Department of Government Efficiency. Tesla board chair Robyn Denholm noted that Musk is once again “front and center” after months of distraction. This renewed attention has helped Tesla’s shares nearly double since April, and Musk signaled confidence in the company’s AI and robotics expansion by purchasing nearly $1 billion of additional Tesla stock.
Musk’s net worth has repeatedly set new records: it first topped Forbes’ list in January 2021 at $190 billion, rose to $300 billion in November 2021, and crossed $400 billion in December 2024. He now outpaces Oracle founder Larry Ellison, the world’s second‑richest person, by $150 billion. The Bloomberg Billionaires Index, which uses a different methodology, estimates Musk’s fortune at $470 billion—still the highest among the world’s top 500 wealth holders. This achievement underscores Musk’s status as one of the most successful entrepreneurs, with his companies continuing to drive innovation and growth in the technology and space sectors.
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