Elon Musk has made history by becoming the first person in the world to amass a fortune exceeding $500 billion, according to Forbes’ billionaires index.
The milestone was reached on Wednesday afternoon when Musk’s net worth briefly touched $500.1 billion before dipping slightly to $499 billion later in the day.
The tech mogul’s wealth has soared on the back of strong performances across his business empire, which spans electric vehicles, space exploration, and artificial intelligence. Alongside Tesla, which remains his flagship company, valuations of his rocket firm SpaceX and his AI startup xAI have climbed in recent months, pushing his fortune to unprecedented levels.
Forbes ranks Oracle co-founder Larry Ellison as the world’s second-richest individual, with an estimated fortune of $350.7 billion, still far behind Musk.
Musk’s immense wealth is closely tied to his 12% stake in Tesla, whose shares have rebounded strongly this year. On Wednesday, the stock rose 3.3% in New York trading and is now up more than 14% since January. Investors have been encouraged by Musk’s decision to dedicate more focus to his companies rather than political controversies, which had previously weighed on Tesla’s market value.
Adding to investor confidence, Musk last month purchased about $1 billion worth of Tesla stock himself — a move widely interpreted as a show of faith in the company’s future.
Despite its recent momentum, Tesla continues to face challenges, including fierce competition from Chinese electric vehicle giant BYD. At the same time, Musk has signaled a bold new direction, with Tesla expanding its ambitions into artificial intelligence and robotics, areas he believes will define the company’s next growth chapter.
Musk’s unprecedented half-trillion-dollar fortune shows his outsized role in shaping industries ranging from space exploration to AI. It also reinforces his position as the most influential — and now wealthiest — entrepreneur of the modern era.
