Elon Musk was the first individual to achieve a net worth of $500 billion, placing Tesla’s CEO halfway in the wealth rankings.
Musk’s fortune dipped to $49.9 billion after briefly exceeding the $50 trillion mark on Wednesday. Forbes Billionaire List.
Owning 12% of Tesla, which is valued at over $1.5 trillion, Musk’s wealth has been positively impacted this year by a significant increase in the electric vehicle maker’s stock price.
Besides Tesla, the 54-year-old is also involved with SpaceX, the rocket company, where he holds a 42% ownership according to Pitchbook data.
Earlier this year, Tesla’s stock experienced a decline, affected by concerns regarding Musk’s focus amidst rising competition from Chinese manufacturers, falling sales, distractions from his other ventures, and a tumultuous relationship with Donald Trump. Analysts noted that Musk’s vocal support for Trump on X (the social media platform he owns) resonated with right-wing political sentiments.
However, Tesla’s stock has surged by 70% over the past six months as investor confidence improved and Musk redirected his attention back to the company. Since its inception in 2025, it has soared by 13%.
Last month, Tesla’s board president, Robin Denholm, remarked that Musk had returned to a “front and center” role in the company after months of distractions.
Shortly thereafter, Musk revealed he had acquired approximately $1 billion in shares, showcasing a strong belief in Tesla’s future as it transitions from a traditional automaker to a leader in AI and robotics.
The Tesla Board also proposed a $10 billion compensation plan for Musk last month, addressing his request for a larger stake while setting high financial and operational goals for the CEO.
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Despite this, Musk’s standing in the wealth rankings has been fluctuating. In September, Larry Ellison, co-founder of Oracle, briefly surpassed Musk as the world’s richest person, according to Bloomberg’s Billionaire Index.
Currently, Bloomberg lists Musk ahead of Ellison but estimates Musk’s wealth at $470 billion compared to Ellison’s $349 billion.
Source: www.theguardian.com
