Elon Musk has officially set a new milestone in the world of wealth accumulation, becoming the first person ever to be valued at half a trillion dollars, according to estimates released by Forbes on Thursday. The majority of Musk’s fortune is tied to his stakes in the electric vehicle powerhouse Tesla and the aerospace leader SpaceX.
The U.S. business magazine assessed Musk’s net worth at around $500 billion, placing him approximately $150 billion ahead of Oracle co-founder Larry Ellison. Shortly after releasing its estimate, Forbes revised the figure slightly downward to $499.1 billion.
Unlike other billionaires, Musk’s net worth is far more complex to track because several of his companies remain privately owned, making precise valuations difficult.
Musk first crossed the $400 billion threshold in December 2024, when speculation swirled among investors that Tesla would benefit from his ties to then newly elected U.S. President Donald Trump. Musk frequently appeared at the White House during the early months of Trump’s administration, though the relationship later soured, with Trump threatening to strip Musk’s ventures of federal support.
At the same time, Tesla faced weaker sales as some buyers were reportedly deterred by Musk’s political leanings and involvement in Trump’s cost-cutting and federal layoff programs.
Despite those setbacks, Tesla’s stock has staged a strong rebound. Analysts point to optimism around the company’s robotics and automation innovations, as well as a rush in electric vehicle purchases ahead of the September deadline for federal EV tax incentives.
Musk’s empire extends beyond Tesla and SpaceX to include the social media platform X, artificial intelligence firm xAI, and brain-implant startup Neuralink. Still, Tesla remains the central pillar of his massive fortune.
In addition, Tesla has unveiled a staggering executive compensation package for Musk, potentially worth $1 trillion, tied to strict conditions such as achieving eightfold market growth, maintaining his position as CEO, and delivering on ambitious performance milestones.
