ELON Musk has become the first person in history to amass a net worth of US$500 billion, according to Forbes, driven largely by his stakes in electric vehicle manufacturer Tesla and aerospace firm SpaceX.
The US business magazine initially placed Musk’s estimated fortune at just over half a trillion dollars, before later revising the figure to US$499.1 billion. Despite the adjustment, Musk remains by far the wealthiest individual globally, surpassing Oracle co-founder Larry Ellison by a margin of around US$150 billion.
Forbes noted that Musk’s net worth is particularly complex to calculate due to the fact that many of his ventures, including SpaceX, social media platform X, and artificial intelligence firm xAI, are not publicly listed.
Musk first crossed the US$400 billion threshold in December 2024, amid investor speculation that Tesla would benefit from his apparent rapport with then-newly elected US President Donald Trump.
While Musk was a frequent visitor to the White House early in Trump’s term, the relationship later deteriorated, culminating in threats from the administration to withdraw federal support for Musk’s companies.
Tesla’s sales were also reportedly affected, with some consumers turning away due to Musk’s outspoken political positions and perceived involvement in government cost-cutting policies.
Nonetheless, the automaker’s stock has since recovered, buoyed by renewed investor confidence in emerging technologies such as robotaxis and humanoid robotics. A surge in purchases ahead of the expiry of federal EV incentives in late September is also believed to have played a role.
Tesla remains the cornerstone of Musk’s vast fortune. The company is currently linked to a proposed executive compensation package worth as much as US$1 trillion, dependent on achieving an eightfold increase in market capitalisation and other key performance targets—while keeping Musk at the helm.
In addition to Tesla and SpaceX, Musk’s portfolio includes the brain-interface company Neuralink, which is advancing human-machine connectivity, and xAI, his foray into artificial intelligence development. - October 2, 2025
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