Elon Musk Briefly Tops $500bn Net Worth

Elon Musk briefly became the first person in history to surpass a $500 billion net worth, driven by Tesla’s stock surge and rising valuations for SpaceX and xAI, before settling just under $499 billion.

Elon Musk has become the first person in history to see his net worth surpass $500 billion, according to Forbes, fuelled by surging gains in Tesla’s share price and rising valuations for his private ventures SpaceX and xAI.

Musk’s fortune briefly touched $500.1 billion earlier this week before settling just under the landmark figure at around $499 billion. The feat keeps him well ahead of his closest rival, Oracle founder Larry Ellison, whose wealth is estimated at $350.7 billion.

The rally has been driven largely by Tesla, where shares have climbed more than 20 per cent so far this year. Investors have expressed renewed confidence in Musk’s focus on the electric vehicle company following months of concern that his attention was spread too thinly across his other ventures.

At the same time, SpaceX continues to climb in value, thanks to its dominance in the commercial space launch market and its expanding Starlink satellite internet service. Musk’s AI start-up, xAI, has also attracted significant funding interest, further lifting the billionaire’s net worth.

Despite these gains, Musk’s finances remain closely tied to the volatile performance of Tesla stock, which has historically seen sharp swings in value. His projected $1 trillion pay package — one of the most ambitious in corporate history — has also stirred controversy, raising questions about executive compensation, governance, and risk.

Supporters argue that Musk’s unique ability to build and scale transformative companies justifies the immense rewards, pointing to his track record in revolutionising industries ranging from space travel to renewable energy. Critics, however, warn that the extraordinary concentration of wealth in a single individual underscores the wider inequalities within global capitalism.

For now, Musk remains firmly atop the global rich list, cementing his place as one of the most influential figures of the modern age. As one market analyst noted, “Musk isn’t simply building companies — he’s building a legacy at the speed of rockets.”