Elon Musk has entered uncharted territory. On Wednesday, he became the first person in history to reach a fortune of nearly $500 billion, according to Forbes.
His wealth, standing at $500.1 billion, is tied largely to Tesla, where he owns more than a 12.4% stake. Tesla shares have risen more than 14% this year, adding billions to his personal value. A single trading day gain of 3.3% pushed his net worth up by over $6 billion.
Tesla stumbled at the start of 2025, weighed down by weak car sales and thinning profit margins. Yet investor confidence has returned as Musk refocused attention on his companies.
Tesla’s board chair, Robyn Denholm, said Musk was once again “front and center” at the company after months at the White House. He underscored his commitment days later by personally buying $1 billion worth of Tesla shares.
That move was seen as a loud vote of confidence in Tesla’s shift from automaking to becoming an AI and robotics powerhouse.
Still, Tesla remains one of the weakest performers among the so-called “Magnificent Seven” tech giants. Its sales struggles and heavy competition in electric vehicles cast shadows over its glittering valuation.
Yet the Tesla board has proposed a $1 trillion compensation package for Musk, linking it to bold performance targets and giving him even more stake in the company’s future.
Musk’s Expanding Empire
Musk’s wealth is not built on Tesla alone. His AI startup, xAI, was valued at $75 billion in July. Reports suggested it could climb towards $200 billion in the near future. Musk dismissed talk of fundraising but kept global investors watching closely.
SpaceX, his rocket company, is also rewriting the rules of private spaceflight. Bloomberg reported it could be valued at $400 billion through insider share sales. If that deal materialises, it would cement SpaceX as one of the most valuable private companies in the world.
Meanwhile, Musk remains a polarising figure. Critics point to Tesla’s faltering car sales, while admirers see his bold vision shaping AI, energy, and space. Oracle co-founder Larry Ellison trails far behind him in wealth with $350.7 billion.
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