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Elon Musk Becomes First Person Worth $500 Billion
Elon Musk hits $500B net worth milestone, driven by Tesla rebound, xAI and SpaceX growth, cementing his lead as the world’s richest person.
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by Muhammad Hashir
2025-10-02
Elon Musk Becomes First Person Worth $500 Billion

Elon Musk became the first person in history to surpass a net worth of $500 billion on Wednesday, thanks to a surge in Tesla’s stock price and rising valuations of his other technology ventures.

The milestone comes less than a year after Musk’s fortune crossed $400 billion, highlighting his position as the world’s richest individual. According to Forbes’ billionaire index, Musk’s wealth briefly touched $500 billion before settling at $499.1 billion at 5 p.m. ET.

Tesla Drives the Fortune

Musk’s wealth is closely tied to his roughly 12% stake in Tesla, the world’s most valuable automaker. Tesla shares have climbed about 14% this year following a volatile start, fueled in part by Musk’s recent $1 billion purchase of Tesla stock, signaling confidence as the company pivots toward AI and robotics.

Tesla’s board also proposed a $1 trillion compensation plan for Musk, setting ambitious financial and operational targets while increasing his ownership stake. Since the disclosure on September 5, Tesla’s stock has risen 35.7%.

Beyond Automobiles: Aerospace and AI

Musk’s ventures span multiple industries:

·       SpaceX, his aerospace company, operates the largest satellite network in the world via Starlink and dominates U.S. launch contracts, regularly ferrying satellites and supplies to the International Space Station. SpaceX is reportedly raising funds at a $400 billion valuation.

·       xAI, Musk’s artificial intelligence startup, is expanding its supercomputer, Colossus, to train large-scale AI models as its Grok chatbot aims to rival ChatGPT and Google Gemini. xAI is valued at $200 billion, up from $75 billion in July.

Musk’s ventures give him outsized influence across technology sectors, from electric vehicles and clean energy to space exploration and artificial intelligence.

Global Wealth Rankings

Following Musk, Oracle founder Larry Ellison is the second-richest person in the world, with a net worth of $350.7 billion, according to Forbes.

Musk’s historic $500 billion milestone underscores his growing dominance in the global tech landscape and his ability to shape industries across multiple sectors simultaneously.
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