Elon Musk has made history as the first individual to surpass a $500 billion net worth, driven by Tesla’s soaring stock price and the rising valuations of his AI and space ventures, according to Forbes’ Billionaires Index. Musk’s wealth briefly hit the $500 billion mark on Wednesday before closing at $499.1 billion, solidifying his position as the world’s richest person.
Musk’s fortune is primarily tied to his 12% stake in Tesla, the world’s most valuable automaker, with shares up 14% this year amid optimism about its shift toward AI and robotics. Last month, Musk purchased $1 billion in Tesla stock, signaling confidence in its long-term strategy. Tesla’s board also proposed a record-breaking $1 trillion compensation package for Musk, tied to ambitious milestones, boosting shares by nearly 36% since September.
Beyond Tesla, Musk’s wealth is fueled by xAI, his AI company valued at $200 billion, which is developing a supercomputer called “Colossus” and the Grok chatbot to rival ChatGPT and Gemini. SpaceX, day valued at $400 billion, continues to grow with demand for Starlink and space launches. These ventures have propelled Musk’s wealth far beyond traditional automotive earnings.
Less than a year ago, Musk’sy net worth crossed $400 billion. His latest milestone highlights his dominance in wealth rankings and influence across clean energy, space, AI, and robotics.
Analysts attribute his success to investor confidence and high valuations but warn that his wealth, tied to volatile equity markets and private valuations, remains subject to economic fluctuations.
With Tesla, SpaceX, and xAI attracting significant capital, Musk’s $500 billion milestone may not be his peak.
