In a historic financial milestone, Elon Musk has become the first person ever to amass a $500 billion fortune, according to Forbes’ real-time tracker. The Tesla CEO’s net worth surged on Wednesday as the company’s stock climbed nearly 4%, adding an estimated $9.3 billion to his wealth. This investor optimism follows Musk’s recent shift in focus back to the electric vehicle maker.
Musk’s wealth is largely tied to his 12% stake in Tesla, now valued at approximately $191 billion. His holdings also include a 42% stake in SpaceX, valued at $168 billion, and a majority share in the combined xAI and X (formerly Twitter) entity, worth an estimated $60 billion. An additional, contested 2018 compensation package from Tesla could be worth $133 billion, though its value is currently discounted pending a legal appeal.
This achievement marks the latest in a rapid ascent for Musk, whose net worth was just $24.6 billion in March 2020. Should his wealth continue growing at this pace, he could become the world’s first trillionaire before 2033. Tesla’s board has already proposed a new, record-breaking pay package that could grant Musk stock worth up to $1 trillion if the company hits ambitious long-term goals. Musk, however, has stated such awards are less about compensation and more about securing his influence to guide Tesla’s future, particularly in the development of advanced technologies like robotics.
