Elon Musk Becomes First Billionaire to Approach $500 Billion Net Worth

Elon Musk Surpasses Half-Trillion Mark as Tesla, SpaceX, and xAI Drive His Fortune

Tesla CEO Elon Musk — Elon Musk Becomes First Billionaire to Approach $500 Billion Net Worth

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Elon Musk, the world’s richest billionaire, has reached a historic milestone, amassing a fortune that nears USD 500 billion. On Wednesday, Musk’s net worth climbed to USD 499.5 billion, driven by the recovery of Tesla stock and the rising valuations of SpaceX and his AI startup, xAI.

According to Forbes, Musk is now the first individual in history to accumulate a fortune approaching the half-trillion-dollar barrier. The billionaire tracker showed Musk’s net worth at USD 499.5 billion as of 3:55 p.m. ET, marking another unprecedented record for the Tesla and SpaceX CEO.

The surge in Musk’s wealth follows a significant rebound in Tesla’s stock price, along with growing valuations for his other ventures. Tesla remains the primary driver of his fortune, with the electric vehicle manufacturer’s stock increasing nearly 14% year-to-date and surging almost 4% on Wednesday alone. During this one-day rally, Musk’s personal wealth jumped by over USD 7 billion.

Highlighting Musk’s central role in the company, Tesla’s board last month proposed a USD 1 trillion compensation package for the CEO. This move reflects the company’s ambition to transition into a major player in artificial intelligence and robotics, beyond its core electric vehicle business.

However, Musk’s wealth growth is fueled not only by Tesla. SpaceX, a global leader in commercial space launches, continues to rise in value steadily. Additionally, Musk’s latest venture, xAI, positioned to compete with OpenAI and other artificial intelligence innovators, has also contributed to his expanding fortune.

Despite this monumental wealth, other billionaires remain far behind. Oracle co-founder Larry Ellison, with a net worth estimated at approximately USD 351.5 billion as of Wednesday, holds second place on Forbes’ billionaire list.

Musk’s record-breaking financial achievement solidifies his status as the richest person in history, demonstrating his extraordinary influence across multiple sectors, including electric vehicles, aerospace, and artificial intelligence. This milestone underscores Musk’s transformative role in shaping the future of technology and global business.

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