Elon Musk Breaks Record as First Person Worth $500 Billion
Elon Musk has made history by becoming the first individual to reach a net worth of $500 billion. As of 3:30 PM Eastern Time, Forbes’ Real-Time Billionaires tracker confirmed this milestone. Musk’s wealth marks a substantial lead over the second-richest person, Larry Ellison, who trails by $150 billion.
Significant Milestones in Musk’s Wealth
This achievement follows Musk’s prior milestone of exceeding $400 billion in December. He is now on track to potentially become the world’s first trillionaire. The increase in his wealth is significantly attributable to the performance of Tesla stocks.
Tesla’s Stock Performance
- Tesla shares rose nearly 4% on the day Musk’s net worth hit $500 billion.
- This surge added approximately $9.3 billion to his overall fortune.
- Musk holds a 12% stake in Tesla, which is valued at $191 billion.
- In 2024, a Delaware judge voided performance-based stock options from Musk’s 2018 compensation, which could be worth an additional $133 billion if reinstated.
Furthermore, Tesla’s board has proposed a new compensation structure that could reward Musk with stock valued at up to $1 trillion if the company meets ambitious performance targets over the next decade.
SpaceX and xAI Holdings Contributions
Musk’s wealth is not solely derived from Tesla. His rocket company SpaceX, founded in 2002, is currently valued at $400 billion, a notable increase from $350 billion in December. Musk’s 42% stake in SpaceX holds an estimated value of $168 billion.
Additionally, Musk launched xAI Holdings in March by merging his artificial intelligence company with the social media platform X, formerly known as Twitter. This merger valued xAI at $113 billion, with Musk owning 53% of the company, worth around $60 billion.
Future Projections
Musk’s journey began in March 2020 when he was worth just $24.6 billion. His rise includes becoming the fifth person to reach $100 billion in August 2020 and the richest person globally by January 2021. He further achieved net worth milestones of $200 billion in September 2021 and $300 billion in November 2021.
If current trajectories continue, Musk could achieve trillionaire status before March 2033, coinciding with significant milestones related to his Tesla pay package.
Musk’s Perspective on Earnings
Despite the staggering numbers, Musk emphasizes his drive goes beyond money. He noted that his compensation is more about influence over Tesla’s direction, especially regarding safety and technology deployment, than financial gain alone. Musk’s recent statements reflect an intention to maintain control amidst external pressures from shareholders.
As the financial landscape continues to shift, Elon Musk’s accomplishments will be closely watched, given their implications for both the tech industry and global wealth trends.
