Elon Musk now has $500 billion to his name, more than any person, ever

Elon Musk has become the world’s first person to hit a net worth of $500 billion, driven by a Tesla rebound and surging valuations of his private ventures, including xAI and SpaceX.

Musk’s milestone came Wednesday, as Tesla shares closed 3.3% higher, pushing his net worth to $500.1 billion, according to Forbes. The rally added over $6 billion in a single day, reaffirming Musk’s position at the top of the billionaire ranks.

The Tesla CEO owns over 12.4% of the electric vehicle company, whose stock has climbed 14% this year despite weak car sales and tight margins that have weighed it down relative to peers in the “Magnificent Seven” tech stocks.

Musk’s renewed focus on Tesla has been pivotal. Board chair Robyn Denholm said last month the billionaire was once again “front and center” after months of distraction. Days later, Musk bought nearly $1 billion worth of Tesla shares—a bold endorsement as the company pushes beyond cars into AI and robotics.

Tesla’s board has since proposed a $1 trillion compensation plan to retain Musk, linking massive rewards to ambitious performance goals and a bigger equity stake.

Outside Tesla, Musk’s empire has ballooned. His AI startup xAI, launched just last year, was valued at $75 billion in July. CNBC reported the company may target a $200 billion valuation, though Musk denied any active fundraising. Meanwhile, SpaceX has been in talks to raise capital in a deal valuing it around $400 billion, per Bloomberg.

Oracle founder Larry Ellison trails Musk with a net worth of $350.7 billion, a distant second on Forbes’ list.

While Musk’s wealth remains volatile—tied closely to market sentiment and tech cycles—Wednesday’s landmark reflects his unmatched influence across electric vehicles, space, and AI.