Elon Musk Becomes First To Hit $500bn Net Worth

……..Cements Position As World’s Richest Ma

Elon Musk has become the first individual in history to surpass $500bn net worth, a milestone powered by Tesla’s resurgent share price and the soaring valuations of his artificial intelligence and space ventures.

According to Forbes’ Billionaires Index, Musk’s fortune briefly crossed the $500bn mark on Wednesday before closing at $499.1bn.

The achievement cements his position as the world’s richest man, extending his lead over other billionaires by a wide margin.
Musk’s wealth is tied primarily to his 12 per cent stake in Tesla, the world’s most valuable automaker. Shares of the electric vehicle company have gained about 14 per cent this year after a volatile start, fuelled in part by investor optimism over its push to transform from a pure-play automaker into an AI and robotics leader.

According to Reuters, last month, Musk disclosed the purchase of roughly $1bn worth of Tesla stock in what analysts described as a show of confidence in the company’s long-term strategy. Shortly after, Tesla’s board unveiled a record-breaking $1trn compensation package for Musk, contingent on ambitious operational and financial milestones.

The package, the largest ever proposed for a corporate executive, has since fuelled investor enthusiasm and helped propel the company’s shares nearly 36 per cent higher since September 5.

Beyond Tesla, Musk’s other ventures have also driven his financial ascent. His AI company, xAI, has grown rapidly since its launch and is reportedly raising fresh funds at a $200bn valuation.

The firm, which is building a supercomputer dubbed “Colossus” to train advanced AI models, is positioning its Grok chatbot as a competitor to OpenAI’s ChatGPT and Google’s Gemini.

Similarly, SpaceX, Musk’s private rocket and satellite company, is reportedly being valued at around $400bn as demand for its Starlink internet service and space launch capabilities continues to expand. Combined, these enterprises have significantly boosted Musk’s net worth beyond traditional automotive earnings.

Musk’s financial rise has been meteoric. Less than a year ago, his fortune crossed $400bn, already making him the richest person in the world at the time.

His latest milestone underscores not only his growing dominance in global wealth rankings but also his influence across industries ranging from clean energy and space exploration to artificial intelligence and robotics.

Analysts say Musk’s record-setting fortune reflects both his unmatched ability to capture investor confidence and the extraordinary valuations attached to his ventures.

However, they caution that much of his wealth remains highly volatile, being tied to equity markets and private valuations subject to investor sentiment and global economic conditions.

Still, with Tesla, SpaceX, and xAI continuing to attract fresh capital and market attention, Musk’s unprecedented $500bn mark may not be his peak.