Elon Musk has reached a historic milestone, becoming the first person ever to surpass a net worth of $500 billion (£371 billion). This achievement was fueled by a recovery in Tesla stock and the soaring valuations of his other startups, including SpaceX and xAI, according to the latest Forbes billionaires index.
What Happened
Elon Musk’s net worth recently surpassed $500 billion, making him the wealthiest individual in the world. This milestone was largely driven by a strong recovery in Tesla’s stock value, as well as significant increases in the valuations of his other ventures, including the AI company xAI and the aerospace firm SpaceX. Tesla shares, which had a rough start to 2025, saw a resurgence in value as investor confidence grew, especially following Musk’s shift in focus back to his businesses after a period of involvement with the Trump administration.
Tesla’s strong performance, gaining more than 14% year-to-date and a further 3.3% increase just recently, contributed to a $6 billion (£4.4 billion) boost to Musk’s fortune. As of September 15, Musk still holds over 12.4% of Tesla’s shares, a key factor in his wealth.
Musk’s Growing Tech Empire
Musk’s wealth is intricately tied to Tesla, but his other companies have also made significant strides. His AI startup, xAI, reached a valuation of $75 billion (£55 billion) as of July, according to Pitchbook data. Additionally, SpaceX, Musk’s rocket company, has seen a surge in value, with a reported plan to raise funds and sell insider shares, potentially valuing the company at approximately $400 billion (£296 billion), as per Bloomberg News.
However, Tesla has faced challenges, including declining vehicle sales and pressure on profit margins. Despite this, Musk has shown continued confidence in Tesla’s future, purchasing approximately $1 billion (£740 million) worth of shares, indicating his belief in the company’s long-term growth and its ambitions beyond being just an automaker.
Musk vs. Larry Ellison
While Musk has claimed the top spot, Oracle founder Larry Ellison remains in second place on the Forbes billionaires list, with a net worth of approximately $350.7 billion (£260 billion) as of this week.
Closing
Elon Musk’s achievement in reaching a $500 billion net worth marks a significant moment in the history of wealth accumulation, highlighting the continued growth of his diverse tech empire. His success with Tesla, SpaceX, and xAI demonstrates his ability to drive innovation across multiple industries.
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