Elon Musk Becomes World’s First Half-Trillionaire
Elon Musk has set a new benchmark in global wealth, becoming the first individual to surpass a net worth of $500 billion (£370.9bn), according to Forbes’ billionaire index.
The Tesla chief executive’s fortune briefly climbed to $500.1 billion on Wednesday afternoon in New York before easing slightly to just over $499 billion by the close of trading. The surge was driven not only by gains in Tesla’s stock but also by rising valuations of his other companies, including rocket firm SpaceX and his artificial intelligence venture, xAI.
The achievement widens Musk’s lead at the top of the world’s rich list. Oracle co-founder Larry Ellison, currently in second place, holds an estimated fortune of $350.7 billion. Ellison had briefly overtaken Musk last month after Oracle’s shares jumped more than 40% on optimism around its cloud and AI businesses.
Musk’s wealth is heavily tied to his 12% stake in Tesla, whose shares have risen more than 20% this year. The stock advanced 3.3% on Wednesday alone, reflecting renewed investor confidence as Musk devotes greater attention to his businesses following a period of political controversies.
Tesla’s board has backed Musk with one of the largest potential pay packages in corporate history, worth more than $1 trillion if he achieves ambitious long-term goals such as expanding Tesla’s value eightfold, selling millions of additional cars, and pushing into robotics and AI.
In September, Tesla chair Robyn Denholm described Musk as “front and centre” at the carmaker. Last month, Musk also purchased around $1 billion worth of Tesla stock, a move widely interpreted as a show of confidence in the company’s future.
Despite its success, Tesla faces mounting competition from Chinese electric vehicle makers like BYD and is in the midst of repositioning itself as a broader AI and robotics company.
The half-trillion-dollar milestone underscores Musk’s dominance in the tech and automotive sectors and cements his standing as the wealthiest person in modern history.
