Musk Becomes World’s First Half-Trillionaire

Elon Musk has become the first person in history to surpass a net worth of $500bn (£370.9bn), according to the Forbes billionaires index. Musk’s wealth briefly touched $500.1bn on Wednesday afternoon in New York before easing slightly to just over $499bn later in the day. The surge reflects rising valuations of Tesla, as well as his other ventures including rocket firm SpaceX and artificial intelligence startup xAI. The Tesla boss remains well ahead of his nearest rival, Oracle founder Larry Ellison, whose fortune is estimated at $350.7bn. Ellison briefly overtook Musk last month following a sharp rise in Oracle’s share price.

Musk’s net worth is closely linked to his 12% stake in Tesla, whose shares have gained more than 20% this year. Investors have welcomed signs that Musk is devoting more attention to his companies following criticism of his political involvement earlier in 2025. Tesla’s board has indicated Musk could be eligible for a pay package worth more than $1tn if he meets ambitious targets over the next decade, including selling one million AI robots and 12 million Tesla cars. Despite competition from Chinese electric vehicle giant BYD and other rivals, Tesla shares rose 3.3% on Wednesday’s close. The company is currently shifting its focus from being purely a carmaker to a broader AI and robotics business.