Elon Musk has become the first person in history to amass a net worth of $500 billion, according to Forbes, after a rally in Tesla’s shares and soaring valuations of his private ventures pushed the entrepreneur into uncharted territory.
Forbes’ real-time billionaires index put Musk’s fortune at $500.1 billion by Wednesday evening. The majority of his wealth remains tied to his 12.4 per cent stake in Tesla, which has climbed more than 14 per cent in 2025 and added $6 billion to his personal tally in a single day of trading.
Tesla, once the standout of the so-called “Magnificent Seven” group of tech stocks, has struggled this year with sliding car sales and squeezed margins, making it one of the weakest performers among its peers. But optimism has returned in recent weeks, helped by Musk himself. The Tesla chief purchased roughly $1 billion worth of company shares last month, signalling renewed focus after months of political distractions. Board chair Robyn Denholm said Musk was “front and center” again at the automaker, which is seeking to reposition itself as an AI and robotics company as much as an electric vehicle manufacturer.
At the same time, Musk’s other ventures have enjoyed a surge in valuations. His AI startup xAI, valued at $75 billion in July, is reportedly being discussed at levels closer to $200 billion. SpaceX, his rocket firm, is said to be weighing insider share sales at a valuation of around $400 billion, according to Bloomberg.
The Tesla board has even proposed a new $1 trillion compensation package for Musk, underscoring both his dominance over the company and his own demands for greater equity control.
Oracle founder Larry Ellison trails Musk in second place on Forbes’ list, with a net worth of $350.7 billion.
