Elon Musk Becomes First Person to Top $500 Billion in Net Worth
Elon Musk, the visionary entrepreneur, has reached an unprecedented milestone in wealth. In December 2024, he became the first person to surpass $400 billion in net worth, with Tesla shares driving his fortune to new heights.
Musk's wealth surge comes on the heels of Tesla's stock performance. On Wednesday, Tesla shares rose nearly 4%, breaking the $450 mark for the first time this year. This increase added a staggering $9.3 billion to Musk's net worth. Currently, Musk's fortune is $150 billion more than the world's second-richest person, Larry Ellison.
Musk's influence extends beyond Tesla. He ranks No. 2 on Time magazine's recent TIME100 AI list, reflecting his impact on artificial intelligence. His venture, xAI Holdings, is valued at $113 billion, with his majority stake worth around $60 billion. Musk's confidence in Tesla's long-term growth is evident in his recent $1 billion stock purchase, his first such buy since 2020.
Musk's empire includes SpaceX, where he holds a 42% stake valued at $168 billion after a private August tender. Tesla's market cap is nearing its all-time high, with Musk's 12% stake worth $191 billion. Musk stepped back from his role in President Trump's Department of Government Efficiency to refocus on Tesla.
Elon Musk's net worth has now reached $500 billion, a historic milestone. His wealth is a testament to his innovative spirit and the success of his ventures, including Tesla, SpaceX, and xAI Holdings. As Tesla shares continue to rise and his other projects progress, Musk's influence and wealth are set to grow further.
