Elon Musk has achieved yet another historic milestone, becoming the first person in history to be worth $500 billion, driven by Tesla Inc.'s (NASDAQ:TSLA) stock rally, SpaceX’s soaring valuations, and the growing value of his AI venture, xAI Holdings.
Musk Crosses The Half-Trillion Mark
On Wednesday afternoon, Forbes' Real-Time Billionaires tracker listed Musk's fortune at $500 billion, putting him $150 billion ahead of Oracle Corp. (NYSE:ORCL) co-founder Larry Ellison.
Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg followed in third place with a net worth of $245.8 billion.
At the time of writing, Forbes pegged his net worth slightly under that at $499.1 billion, still marking the record.
Market commentator The Kobeissi Letter underscored the milestone, writing on X that "Elon Musk is now worth more than all but 19 public companies in the world."
For instance, His net worth exceeds the market capitalization of Johnson & Johnson (NYSE:JNJ) at $448.07 billion, Palantir Technologies Inc. (NASDAQ:PLTR) at $421.25 billion, and Alibaba Group Holding Ltd. (NYSE:BABA) at $435.83 billion.
Tesla's Role In Musk's Wealth
Tesla shares climbed 3.31% on Wednesday and are up 21.14% year-to-date, propelling Musk's fortune higher, according to Benzinga Pro.
Since Musk announced in April that he would be stepping away from his position as head of President Donald Trump's Department of Government Efficiency, or DOGE, to focus more on Tesla, the electric vehicle company's stock has almost doubled.
With Tesla's market capitalization now within 10% of its December all-time high, Musk's 12% ownership in the company is valued at $191 billion.
Moreover, while Musk's 2018 compensation package, potentially worth $133 billion, was voided by a Delaware judge in 2024, the board has proposed a new pay plan that could be valued at up to $1 trillion if ambitious performance targets are met.
However, not everyone was impressed by this package. Last month, in his inaugural media interview, Pope Leo XIV condemned the excessive pay packages of corporate leaders, specifically targeting Musk's $1 trillion compensation plan.
Sen. Bernie Sanders (I-Vt.) described the package as deeply immoral and economically insane.
Tesla Board Chair Robyn Denholm defended the pay package as a reward for extraordinary achievements, while Morgan Stanley analyst Adam Jonas called it a "good deal" for investors.
SpaceX And xAI Add Billions
Musk's rocket company, SpaceX, is now valued at $400 billion after an August private tender offer. Musk's 42% stake is worth about $168 billion.
Meanwhile, xAI Holdings, created when Musk merged his artificial intelligence startup with X earlier this year, is valued at $113 billion.
Musk Could Become The First Trillionaire
In March 2020, Musk was worth just $24.6 billion. By August 2020, he had crossed the $100 billion threshold.
The tech mogul went on to become the world's richest person in January 2021, worth $190 billion, before hitting $300 billion later that year.
He reached $400 billion in December 2024 and now $500 billion less than a year later.
If Musk maintains his current trajectory, analysts say he could become the world's first trillionaire as early as the next decade.
According to Benzinga's Edge Stock Rankings, TSLA's stock momentum ranks in the 89th percentile, highlighting its performance relative to META and other industry peers.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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