The Businesses That Made Elon Musk First Human with $500 Billion Wealth

Elon Musk, the owner of Tesla, SpaceX, and X, has made financial history by becoming the first person to accumulate a personal fortune exceeding $500 billion, equivalent to KSh 64.6 trillion.

The tech magnate’s net worth briefly reached $500.1 billion on Wednesday afternoon New York time.

The record was tracked by Forbes’ Real-Time Billionaires index. Although the total dipped back slightly to $499.1 billion later that day, the historic milestone had been achieved.

The Source of the Half-Trillion

Mr Musk’s massive fortune is closely tied to his array of innovative ventures. His electric vehicle company, Tesla, has seen its share price climb sharply this year.

Tesla shares rose by nearly 4% on Wednesday, adding an estimated $9.3 billion to his wealth.

His holding in the electric carmaker is a crucial component. Musk holds more than a 12% stake in the company, now valued at $191 billion.

The rocket company SpaceX, founded by Musk in 2002, is also a significant contributor. SpaceX is currently valued at $400 billion.

This is an increase from $350 billion last December. Musk owns an estimated 42% stake in the rocket maker, which is worth $168 billion.

Furthermore, his portfolio includes xAI Holdings. This entity was formed in March when his artificial intelligence company, xAI, merged with the social media platform X (formerly Twitter).

The combined business was valued at $113 billion9. Musk’s estimated 53% stake in xAI Holdings is worth $60 billion.

Ahead of the Rivals

The milestone firmly cements Mr Musk’s position as the world’s richest person. He is $150 billion ahead of the nearest rival.

The current runner-up is Oracle CEO Larry Ellison. Mr Ellison’s net worth stands at approximately $350.7 billion.

ALSO READ: Inside Elon Musk's X TV - What We Know So Far

Musk briefly lost the title of the world’s richest person to Mr Ellison earlier this year in September. This switch happened after Oracle’s shares soared following multi-billion-dollar AI deals.

On the Road to a Trillion

Musk has been accelerating toward this record for years. In March 2020, his wealth stood at just $24.6 billion.

He became the world’s richest person for the first time in January 2021. More recently, he became the first person worth $400 billion in December 2024.

Following this new milestone, Mr Musk is now halfway to becoming the planet's first trillionaire.

Tesla’s board has proposed a new, record-breaking pay package. This package could give Musk additional stock worth up to $1 trillion if the company achieves ambitious "Mars-shot" performance goals over the next decade.

These goals include boostingTesla’s value eightfold, selling a million AI robots, and selling another 12 million Tesla cars.

Investors have reacted positively to news that Musk is focusing more time on his companies. This shift followed his announcement in April that he would be stepping back from his role as head of President Trump’s Department of Government Efficiency (DOGE).