Elon Musk becomes world’s first half-trillionaire

WorldView · Ann Nyambura · October 2, 2025
Elon Musk becomes world’s first half-trillionaire
X ownwer Elon Musk.PHOTO/CNN
In Summary

According to Forbes’ billionaires index, Musk’s net worth briefly hit $500.1 billion on Wednesday afternoon in New York before easing to just over $499 billion later in the day. The milestone reinforces his position as the richest person in the world, far ahead of other major tech figures.

Elon Musk has become the first individual in history to amass a fortune exceeding $500 billion, as the value of Tesla and his other companies continues to climb this year.

According to Forbes’ billionaires index, Musk’s net worth briefly hit $500.1 billion on Wednesday afternoon in New York before easing to just over $499 billion later in the day. The milestone reinforces his position as the richest person in the world, far ahead of other major tech figures.

The sharp increase in Musk’s wealth has been driven by strong gains in Tesla’s stock, alongside rising valuations of his other ventures, including the rocket firm SpaceX and artificial intelligence startup xAI.

Forbes ranks Oracle founder Larry Ellison in second place globally, with an estimated fortune of $350.7 billion. Ellison briefly surpassed Musk last month when Oracle’s shares soared by more than 40% on the back of a strong outlook for its cloud services and AI deals.

Musk holds more than a 12% stake in Tesla, and the company’s share price has climbed more than 20% since the start of the year. On Wednesday alone, Tesla shares rose by over 3.3% in New York trading.

Investor confidence has grown as Musk has shifted his focus back to his companies after months of political controversy. Earlier in the year, he faced backlash over his involvement with the Trump administration’s Department of Government Efficiency, which is tasked with cutting government spending and jobs.

Musk, who also owns the social media platform X, has been outspoken on various social and political topics, including immigration and diversity, equity and inclusion programmes.

Tesla chair Robyn Denholm said in September that Musk was now “front and centre” at the company. The board has also outlined a pay package that could be worth more than $1 trillion over the next decade if he meets several ambitious targets.

To unlock that package, Musk would have to grow Tesla’s market value eightfold, sell a million AI robots, deliver an additional 12 million vehicles, and achieve other set milestones.

Last month, Musk bought about $1 billion worth of Tesla stock, a move many investors interpreted as a strong signal of confidence in the company’s future.

Tesla continues to face challenges from competitors in the electric vehicle market, especially from China’s BYD. The firm is also undergoing a major transformation to position itself as a leading AI and robotics business.

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