Elon Musk is the first individual to achieve $500 billion in net worth, according to Forbes
Elon Musk’s net worth reached $500.1 billion as a result of SpaceX and xAI’s rising valuations as well as Tesla’s recovery.
Elon Musk became the first person in history to attain a net worth of about $500 billion on Wednesday, according to Forbes, thanks to a rebound in Tesla shares and the increasing prices of his other businesses this year.
At 4:15 p.m. ET, his wealth was valued at $500.1 billion according to the Forbes billionaires index. As of September 15, Musk owned about 12.4% of Tesla, indicating his close relationship with the business and its wealth. Musk’s net worth has risen by more than $6 billion as the stock closed 3.3% higher on Wednesday and has risen more than 14% so far this year.
After a difficult start to 2025, investor trust has been restored as Musk returns to his businesses, and Tesla shares have been rising. After spending several months at the White House, Musk returned to the company last month, “front and center,” according to Robyn Denholm, the chair of the Tesla board. Days later, Musk disclosed that he had invested around $1 billion in Tesla stock, which was seen as a major indication of his confidence in the company’s future as it evolves from an automotive to a major player in artificial intelligence and robotics.
Tesla is one of the worst-performing mega-cap tech stocks in the “Magnificent Seven” group because of dwindling car sales and margin challenges in spite of the gains. Last month, the Tesla board presented Musk with a $1 trillion compensation plan that included lofty financial and operational goals connected to Musk’s demand for a greater part in the company.
Musk’s other ventures have also contributed to his increasing wealth. There have been reports that his AI company, xAI, may strive for a $200 billion valuation, but in July, PitchBook valued it at $75 billion. Musk denied at the time that he had any financial plans. In contrast, SpaceX was considering raising money and selling insider shares in a deal that would value the company at more than $400 billion, according to a July report from Bloomberg.
With a net worth of almost $350.7 billion as of Wednesday, Oracle founder Larry Ellison joined Musk as the second richest person in the world, according to Forbes.
