Elon Musk Reportedly First to Ever Hit $500 Billion USD Net Worth

Summary

• Elon Musk became the first person ever to reach a net worth of $500 billion USD on October
• This historic financial milestone was primarily driven by a significant rebound in Tesla stock, along with soaring valuations for his private companies, SpaceX and xAI.
• The half-trillion-dollar fortune secures his position as the world’s wealthiest individual and accelerates speculation about him becoming the first trillionaire

Elon Musk has reportedly made financial history once again, becoming the first person ever to achieve a net worth of $500 billion USD. The staggering milestone was reached on October 1, primarily fueled by a powerful rebound in his most valuable holdings.

Musk’s wealth is intricately tied to the performance of his technology ventures. The largest contributor to his fortune remains his stake in Tesla, whose shares have seen significant gains this year. Investors have been buoyed by the perception that Musk has shifted his focus back to the electric vehicle company, leading to improved sentiment and a surge in the stock price. According to reports, Tesla shares saw an uptick in 4% on Wednesday, which has in turn added more than $6 billion USD to Musk’s fortune, making his 12% stake worth $191 billion USD. Tesla’s stock has risen over 14% this year so far. His half-trillion dollar wealth also hinges on his 42% stake in SpaceX, which was valued at $168 billion USD in August and his involvement with xAI Holdings which is worth $75 billion USD following its merger with X.

The monumental figure places Musk’s fortune approximately $150 billion USD ahead of the world’s second-richest person. This latest record continues a rapid ascent that saw his net worth cross $400 billion USD just last December. The historic figure has renewed speculation that Musk remains on course to eventually become the world’s first trillionaire, cementing his status as one of the most financially dominant figures in modern history.