Musk’s Wealth Hits $500B as Tesla Surge Fuels Trillionaire Talk
Due to a surge in the value of his other businesses and a recovery in the EV manufacturer’s stock, billionaire and Tesla CEO Elon Musk became the first individual to reach a net worth of $500 billion on Wednesday. As per reports, Musk’s net worth was recorded at $499.5 billion as of 3:55 pm Eastern Time. Tesla shares increased by nearly 4 percent, contributing an estimated $9.3 billion to Musk’s wealth as investors remained optimistic about the potential of a more concentrated Musk. Tesla’s stock price has nearly doubled following Musk’s announcement during the company’s April earnings call that he would step back from his role as head of the Department of Government Efficiency under US President Donald Trump’s administration, to concentrate more on his electric vehicle company. As the company’s market capitalisation approaches within 10 per cent of its December all-time high, Musk’s 12 per cent stake is now valued at $191 billion.
In early September, Tesla’s board sanctioned a groundbreaking compensation plan that could potentially award Musk with stock valued at up to $1 trillion, contingent upon the company meeting ambitious performance goals, including increasing its market capitalization by more than eight times within the next ten years. Tesla is not the sole entity adding to Musk’s half-trillion-dollar fortune. SpaceX, established in 2002, has reached a valuation of $400 billion following a private tender offer in August, an increase from $350 billion in December. Musk holds an estimated 42 percent stake in the rocket manufacturer, valued at $168 billion. xAI Holdings, yet another of Musk’s ventures, has played a role in achieving this milestone. Founded in March of this year, following the consolidation of his artificial intelligence company, xAI, with X, the organization was valued at $113 billion. Musk possesses an estimated 53 percent stake in xAI Holdings, valued at approximately $60 billion.
Musk’s net worth achievement timeline
- March 2020 – Net worth stands at $24.6 billion
- In August 2020, he joined the $100 billion club, becoming the fifth person ever to achieve this milestone.
- In January 2021, he achieved the status of the world’s richest person for the first time, amassing nearly $190 billion.
- September 2021 – Surpasses $200 billion, following Jeff Bezos and Bernard Arnault
- November 2021 – Reaches $300 billion
- December 2024 – Achieves $400 billion
- October 2025 – Net worth approaches $500 billion, marking the first individual in history to reach this milestone.
Reports says that if Musk maintains his current trajectory, he may achieve the status of the world’s first trillionaire by March 2033, coinciding with the initial vesting of his $1 trillion Tesla pay package. Musk has consistently asserted that the award is not about the money. Oracle founder Larry Ellison ranks as the second-richest individual on Forbes’ list, boasting a net worth of $351.5 billion as of Wednesday.
