World's first person worth $500 billion: Elon Musk's fortune estimated by Forbes

As of 3:30 PM Eastern Time, the net worth of the world’s richest person, Elon Musk, was estimated at $500 billion (by Wednesday evening, it stood at around $499.1 billion).

Thus, Musk, who became the first person in history to reach $400 billion in December, now leads Larry Ellison by $150 billion, who ranks second. He is also halfway to becoming the world’s first trillionaire.

Rising stock values

On Wednesday, Tesla's shares rose by 4%, adding roughly $9.3 billion to Musk’s wealth, as investors celebrated the company’s renewed momentum.

According to Forbes, Tesla’s stock price has nearly doubled since Musk announced in April that he was stepping down as head of the Department of Government Efficiency (DOGE) to focus more on Tesla.

"Tesla’s market capitalization is now within 10% of its all-time high reached in December, and Musk’s 12% stake in the company is valued at $191 billion," the outlet wrote.

In addition, SpaceX, the aerospace company founded by Musk in 2002, is now valued at $400 billion, up from $350 billion in December 2024. Musk owns about 42% of the company, a stake worth $168 billion.

Musk's xAI Holding, founded in March 2025 and merged with the social network X (formerly Twitter, acquired in 2022), is valued at $113 billion. He owns roughly 53%, worth around $60 billion.

On path to trillion

According to Forbes, reaching the $500 billion milestone marks the latest in a string of achievements for Musk over the past five years. Back in March 2020, his fortune was only $24.6 billion, and by August, thanks to Tesla’s soaring stock, he became the fifth person ever to surpass $100 billion.

"If he continues at this pace, Musk could become the world’s first trillionaire by March 2033, when the first of two tranches of his $1 trillion Tesla compensation package vests," Forbes wrote.

However, Musk has insisted that his motivation is not about money.

"It’s not about compensation, it’s about having enough influence at Tesla to ensure safety if we end up building millions of robots. If activist consulting firms that don’t even own Tesla stock try to push me out, that’s not a future I’m okay with," Musk wrote on X in September.

Politics hurt Musk's finances

In 2024, Musk actively supported Donald Trump’s presidential campaign, investing millions into it. After Trump’s victory on December 17, 2024, Musk’s fortune peaked at $486.4 billion.

Shortly after Trump took office, Musk was appointed to lead the newly established Department of Government Efficiency (DOGE). However, due to Trump’s economic policies and tariffs, Musk’s net worth fell to $297.8 billion by April.

Within months, Musk left the department and returned fully to his business ventures, setting the stage for his remarkable rebound and eventual ascent to half a trillion dollars.