Musk hits $500 billion milestone as Tesla, SpaceX, xAI valuations rise [View all]

Source: Malaysa Sun

AUSTIN, Texas: Tesla CEO Elon Musk this week became the first person in history to amass a net worth of US$500 billion, according to Forbes, fueled by a rebound in Tesla shares and soaring valuations of his other ventures this year.

Forbes' billionaires index pegged Musk's wealth at $500.1 billion as of 4:15 p.m. ET, putting him well ahead of the world's most affluent peers. Oracle founder Larry Ellison was the second-richest on the list, with a fortune of $350.7 billion.

Musk's wealth is tied largely to Tesla, where he held a 12.4 percent stake as of mid-September. Tesla shares have climbed more than 14 percent this year, including a 3.3 percent gain that added over $6 billion to Musk's personal fortune.

The surge comes after Tesla's rocky start to 2025, when slowing car sales and shrinking margins weighed heavily on the stock, leaving it one of the weakest performers among the "Magnificent Seven" group of mega-cap technology companies. Investor sentiment began improving in late summer as Musk renewed his focus on his companies after months spent in Washington.

Read more: https://www.malaysiasun.com/news/278614240/elon-musk-becomes-first-person-to-reach-usd500-billion-net-worth