Elon Musk Hits $500 Billion Net Worth, Halfway to Trillionaire Status

Business mogul Elon Musk has set another historic record, becoming the first person ever to reach a net worth of $500 billion.

According to Forbes’ Real-Time Billionaires tracker, Musk crossed the milestone on Wednesday afternoon, thanks to strong gains in Tesla’s share price. His fortune now stands far ahead of other billionaires, with Oracle co-founder Larry Ellison trailing by about $150 billion.

This development places Musk halfway to becoming the world’s first trillionaire, a feat that experts say could happen within the next decade if current growth continues.

Tesla’s Boom Boosts Musk’s Fortune

Tesla’s stock rose nearly 4% on Wednesday, adding about $9.3 billion to Musk’s wealth. The electric carmaker’s market value is now within touching distance of its all-time high. Musk, who owns a 12% stake in Tesla, has seen his shareholding climb to an estimated $191 billion.

This growth comes after Musk shifted focus back to Tesla, stepping aside from certain government-related duties earlier this year. Investors have since shown renewed confidence in the company’s direction.

Though a court ruling in Delaware earlier canceled his 2018 CEO pay package, which could have been worth over $133 billion today, Musk is appealing the decision. Meanwhile, Tesla’s board has proposed a fresh record-breaking compensation plan that could potentially hand him stock valued at $1 trillion if the company meets ambitious targets such as multiplying its market capitalization by eight within 10 years.

Beyond Tesla, Musk’s other ventures remain massive wealth drivers. His space exploration firm, SpaceX, is currently valued at $400 billion, up from $350 billion last year. With a 42% ownership stake, Musk’s share is worth about $168 billion.

In addition, his artificial intelligence venture, xAI Holdings, which merged with X (formerly Twitter) earlier this year, is now valued at $113 billion. Musk owns 53% of the company, giving him an extra $60 billion stake.

Musk’s rise has been nothing short of dramatic. In March 2020, he was worth only $24.6 billion. By August that year, Tesla’s rally made him one of only five people to cross $100 billion. He became the richest man alive in January 2021 at nearly $190 billion.

By September 2021, he joined the exclusive $200 billion club, and in November of the same year, he hit $300 billion. In December 2024, he broke another record by crossing $400 billion. Now, less than a year later, he has reached $500 billion.

If Musk maintains this trajectory, projections suggest he could become the world’s first trillionaire before March 2033, when part of his proposed Tesla compensation package vests.

Still, Musk insists his push for control at Tesla isn’t just about money.

“It’s not about compensation,” he wrote on X in September. “It’s about ensuring I have enough influence over Tesla to guarantee safety if we end up building millions of robots. I don’t want activist groups who don’t even own Tesla shares to decide the company’s future.”

For now, Musk remains firmly ahead of the billionaire pack, rewriting history as he edges closer to a title no one else has ever held—trillionaire.