Elon Musk, the billionaire behind Tesla, SpaceX, and several other ventures, has reached a historic milestone: a net worth of more than $500 billion. According to the Forbes billionaires index, Musk’s fortune briefly crossed $500.1 billion on Wednesday afternoon in New York before settling just above $499 billion later in the day. This marks the first time in history that any individual has crossed the half-trillion-dollar mark. Musk remains well ahead of other tech tycoons, including Oracle founder Larry Ellison, who is in second place with about $350.7 billion. Musk’s wealth is closely tie

Elon Musk, the billionaire behind Tesla, SpaceX, and several other ventures, has reached a historic milestone: a net worth of more than $500 billion. According to the Forbes billionaires index, Musk’s fortune briefly crossed $500.1 billion on Wednesday afternoon in New York before settling just above $499 billion later in the day. This marks the first time in history that any individual has crossed the half-trillion-dollar mark. Musk remains well ahead of other tech tycoons, including Oracle founder Larry Ellison, who is in second place with about $350.7 billion. Musk’s wealth is closely tied to his 12% stake in Tesla, whose shares have climbed more than 20% so far this year. On Wednesday alone, the stock rose more than 3.3%. Investors have been encouraged by Musk spending more of his energy on his businesses rather than politics. Tesla’s board has also placed Musk “front and centre” at the company, according to chair Robyn Denholm. The board recently revealed that Musk could qualify for a pay package worth over $1 trillion if he achieves ambitious goals, including increasing Tesla’s value eightfold, selling 12 million cars, and launching a million AI robots. While Tesla is at the core of his wealth, Musk’s other businesses have also gained in value. His rocket company, SpaceX, and his artificial intelligence startup, xAI, have both seen rising valuations in recent months. Musk has also been investing personally in Tesla, announcing last month that he had bought about $1 billion worth of the company’s shares. Many saw the move as a vote of confidence in Tesla’s future, especially as it faces stiff competition from rivals such as China’s BYD and continues its transition toward AI and robotics. Earlier this year, Musk came under criticism for his role in the Trump administration’s Department of Government Efficiency (DOGE), which focused on cutting federal spending and jobs. His outspoken views on immigration and diversity programs have also stirred controversy. However, the market seems more optimistic now that Musk is dedicating more time to his companies. Tesla’s recent gains suggest investors are once again betting on his long-term vision. Crossing the $500 billion mark further cements Elon Musk’s status as the world’s richest person by a wide margin. Whether he can hold onto this record will depend on the performance of Tesla, SpaceX, xAI, and his other ventures.

A little more informed. A little more connected.