New York: Elon Musk has made history by becoming the first individual ever to hit a net worth of $500 billion. The Tesla and SpaceX chief reached the milestone around 3:30 p.m. ET, putting him about $150 billion ahead of Oracle co-founder Larry Ellison, the world’s second-richest person, according to a report by Fox Business
Musk’s wealth has grown at a staggering pace over the past five years. From $24.6 billion in March 2020, his fortune surged past $100 billion by late 2020, crossed $200 billion in 2021, reached $400 billion in 2024, and has now climbed to half a trillion in 2025. The surge was fueled largely by Tesla’s stock, which gained nearly 4% on the day of the milestone, adding roughly $9.3 billion to his fortune. Tesla’s market capitalization is now approaching its all-time high, with Musk’s 12% stake valued at about $191 billion.
A major contributor to Musk’s net worth is SpaceX, currently valued at around $400 billion, of which his holdings contribute an estimated $168 billion. He also controls a majority stake in xAI Holdings, the artificial intelligence startup valued at nearly $60 billion.
Despite the focus on wealth rankings, Musk has emphasized his concerns about influence over Tesla’s future direction. In a post on X (formerly Twitter) in September, he wrote: “It’s not about ‘compensation’, but about me having enough influence over Tesla to ensure safety if we build millions of robots. If I can just get kicked out in the future by activist shareholder advisory firms who don’t even own Tesla shares themselves, I’m not comfortable with that future.”
Analysts note that Musk’s trajectory could make him the world’s first trillionaire by 2033, especially with Tesla’s proposed $1 trillion compensation package tied to ambitious performance milestones.
Musk’s record-breaking wealth highlights the dramatic rise of technology-driven companies in sectors such as electric vehicles, space exploration and AI, while also raising broader questions about market volatility, corporate governance and the societal impact of such concentrated fortunes.