Elon Musk Sets Record As First Person Worth $500 Billion
Elevated to a net worth of about half a trillion dollars on Wednesday, Tesla CEO Elon Musk became the first individual in history to reach that valuation, following a resurgence in the shares of the EV company, and soaring valuations in the other startups of its tech entrepreneur.
According to the Forbes billionaire’s index, Mr. Musk has a net worth of $499.5 billion as of 3:55 p.m. E.T.
Tesla stock has been driving the increase in Mr. Musk's net worth. The shares have risen more than 14 percent so far this year and climbed nearly 4 percent on Wednesday (October 1, 2025), adding more than $7 billion to his net worth.
Tesla CEO Elon Musk on Wednesday became the first person in history to achieve a net worth of nearly $500 billion, propelled by a rebound in the EV company's shares and surging valuations of the tech entrepreneur's other startups.
Mr. Musk's net worth stood at $499.5 billion as of 3:55 p.m. E.T., according to Forbes' billionaire’s index.
Tesla stock has been driving the increase in Mr. Musk's net worth. The shares have risen more than 14 percent so far this year and climbed nearly 4 percent on Wednesday (October 1, 2025), adding more than $7 billion to his net worth.
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The Tesla board last month proposed a $1 trillion compensation plan for Mr. Musk, underscoring the hold he has over the carmaker as it attempts to transform into an AI and robotics powerhouse.
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Oracle founder Larry Ellison follows Mr. Musk as the second richest person on Forbes' list, with a net worth of about $351.5 billion as of Wednesday (October 1, 2025).