Elon Musk has officially become the first person ever to reach a net worth of $500 billion, according to Forbes.
The Tesla, SpaceX and xAI boss’s fortune crossed the half-trillion mark on Wednesday, 1 October 2025.
According to Forbes’ real-time billionaires tracker, Musk’s net worth stood at $499.1 billion earlier in the day before Tesla’s share price pushed him into the $500 billion range.
He is now far ahead of the second-richest person in the world, Oracle co-founder Larry Ellison, whose net worth is about $350 billion.
Musk’s wealth comes mainly from his holdings in Tesla and SpaceX. His 12% stake in Tesla is now worth about $191 billion, boosted by a strong stock rally that saw shares climb nearly 4% on Wednesday alone.
Tesla’s market value is once again close to its record highs. His rocket company, SpaceX, is privately valued at $400 billion, making his 42% share worth about $168 billion.
In addition, Musk owns 53% of xAI Holdings, the artificial intelligence and social media business formed when he merged his new AI company with X (formerly Twitter).
That stake is valued at $60 billion.
Musk has been climbing rapidly up the wealth rankings in recent years. In March 2020, his fortune was under $25 billion. By August 2020, he was worth more than $100 billion for the first time.
He passed $200 billion in September 2021, hit $300 billion in November 2021, $400 billion in December 2024, and has now reached the $500 billion mark.
If Musk’s wealth continues to grow at this pace, analysts believe he could become the world’s first trillionaire before 2033, when parts of his proposed $1 trillion Tesla pay package may be unlocked.
In a post on X last month, Musk insisted that his massive compensation deals were not only about personal wealth.
“It’s not about compensation, but about me having enough influence over Tesla to ensure safety if we build millions of robots,” Musk said.
Musk’s $500 billion fortune marks an unprecedented moment in global finance. No individual has ever amassed this level of personal wealth before.