- Business tycoon Elon Musk became the first billionaire to cross $500 billion in net worth
- He is ahead of Larry Ellison, Mark Zuckerberg, and Jeff Bezos
- Shares of Tesla closed at $459.46 on Wednesday, rising by 3.3%.
Business tycoon Elon Musk became the first billionaire to cross $500 billion in net worth, according to Forbes’ real-time Billionaire tracker, as the multi-sector entrepreneur continues to maintain significant ownership and involvement in his various ventures, including Tesla, xAI, SpaceX, and X—with privately held enterprises valued in the billions.
According to Bloomberg, SpaceX was valued at more than $400 billion after funding talks.
The update comes after Musk bought $1 billion worth of Tesla stock and was given ambitious growth targets by the EV company’s board of directors—which if achieved, could unlock a pay package of $1 trillion via share compensation.
Newsletter
Get weekly updates on the newest crypto stories, case studies and tips right in your mailbox.
In August, Tesla’s board approved a 96 million share award for Musk, who was denied a performance award worth $56 billion earlier in 2024 by a Delaware court.
At the time of reporting, Musk’s net worth remains just shy of the $500 billion mark crossed on Wednesday. He is ahead of Oracle CEO Larry Ellison, Mark Zuckerberg and Jeff Bezos. He remains the world’s richest man with a margin of $150 billion between him and Larry Ellison, who is roughly worth $350 billion.
Source: Google Finance
Shares of Tesla closed at $459.46 on Wednesday, rising by 3.3%.
This year, he occupied a leading advisory role in the Department of Governmental Efficiency—also known as DOGE—in Trump’s Administration from its formal creation in January 2025, before leaving his post in May to focus on his businesses.
