Elon Musk Achieves $500 Billion Net Worth Milestone: Forbes Reports

Elon Musk has reached a significant financial milestone, achieving a net worth of $500 billion, according to estimates by Forbes. This achievement comes as Tesla’s stock prices have seen considerable growth in recent months.

Key Facts on Elon Musk’s Net Worth

Musk’s fortune increased by roughly $10 billion from the previous day. As a result, he is now on a trajectory that may lead him to become the world’s first trillionaire. Fluctuations in his wealth were noted on Forbes’ “Real-Time Billionaires” rankings throughout the day.

Comparative Wealth Rankings

While Forbes estimates Musk’s net worth at $500 billion, the Bloomberg Billionaires Index, which calculates wealth differently, places his fortune at $459 billion. The two financial publications often report varying figures due to their distinct methodologies.

• Forbes conducts interviews and annual research for its rankings.
• Bloomberg updates its data daily based on stock prices and financial ratios.

The discrepancies arise because Forbes applies larger discounts, while Bloomberg accounts for taxes and market fluctuations.

Other Wealthy Individuals

Alongside Musk, Larry Ellison, co-founder of Oracle, is currently ranked as the second-wealthiest person globally. His estimated wealth is $349.1 billion according to Forbes, while Bloomberg estimates it at $340 billion.

Mark Zuckerberg, founder of Facebook and CEO of Meta, is the third richest, with Forbes valuing his net worth at $246.7 billion and Bloomberg at $258 billion. Amazon founder Jeff Bezos is fourth, with Forbes indicating his wealth is $233.6 billion and Bloomberg estimating it at $243 billion.

Source of Wealth

While Musk is widely recognized for his role at Tesla, a substantial portion of his wealth stems from ownership interests in privately held companies like SpaceX and xAI, along with his earlier investment in PayPal.

Recent Developments

This year, Musk made headlines when he was appointed by President Trump to oversee government spending through a new department aimed at efficiency. However, he returned to his business ventures full-time in May.

Since the beginning of September, Tesla’s stock has risen by approximately 35%, reaching around $460 per share as of Wednesday. The Tesla board has approved an annual compensation package for Musk potentially worth billions, which could facilitate his quest to become the first trillionaire.