Elon Musk has once again broken records in the world of wealth. The Tesla chief has become the first person ever to reach a net worth of nearly USD 500 billion, thanks to the recovery of Tesla’s stock and the rising value of his other companies.
According to Forbes’ billionaire index, Musk’s wealth stood at USD 500.1 billion as of Wednesday evening, making him the richest person in the world by a wide margin. This figure places him far ahead of other global business leaders.
Much of Musk’s fortune comes from Tesla, where he owns more than a 12.4 percent stake. The electric carmaker’s stock has risen more than 14 percent this year, despite ongoing challenges in sales. On Wednesday alone, Tesla shares closed 3.3 percent higher, adding over USD 6 billion to Musk’s personal wealth.
Tesla’s performance earlier this year was weak, with falling sales and shrinking profit margins dragging the company’s stock down. Still, recent gains have restored investor confidence. Musk himself has shown commitment by purchasing nearly USD 1 billion worth of Tesla shares last month. Tesla is also pushing hard to reposition itself as not just a carmaker but a leader in artificial intelligence and robotics.
The company’s board has proposed a massive USD 1 trillion pay package for Musk, linking his rewards to ambitious business and financial targets. If approved, this would also give Musk a stronger stake in Tesla.
Beyond Tesla, Musk’s growing empire is boosting his wealth even further. His AI startup, xAI, was valued at USD 75 billion in July, and there is speculation that its valuation could soon reach USD 200 billion, though Musk denied any immediate fundraising plans.
Meanwhile, his rocket company SpaceX continues to soar. Reports in July suggested it could be valued at around USD 400 billion in its next funding round.
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Shivam Verma is a journalist with over three years of experience in digital newsrooms. He currently works at NewsX, having previously worked for Firstpost and DNA India. A postgraduate diploma holder in Integrated Journalism from the Asian College of Journalism, Chennai, Shivam focuses on international affairs, diplomacy, defence, and politics. Beyond the newsroom, he is passionate about football—both playing and watching—and enjoys travelling to explore new places and cuisines.
