Elon Musk has reached a historic net worth of $500 billion, becoming the first individual to achieve this milestone. His wealth climbed steadily as Tesla shares rose more than 14% this year, with Wednesday’s 3.3% increase adding over $6 billion to his fortune.
Factors Driving Wealth
Musk’s AI venture, xAI, has also contributed to his financial growth. The startup was valued at $75 billion in July and is expected to target a valuation near $200 billion, although no immediate fundraising is planned. Tesla’s stock performance remains a key driver, boosting his net worth significantly over the past months.
Global Wealth Rankings
Oracle co-founder Larry Ellison ranks second, with a net worth of $350.7 billion. Ellison briefly overtook Musk last month, but Musk quickly reclaimed the top spot. Since first becoming the world’s richest in 2021, Musk has spent nearly 300 days at the summit, trading places with other top billionaires like Jeff Bezos and Bernard Arnault.
