Elon Musk Is the First to Achieve a $500B Net Worth

Tesla’s CEO is still the richest man in the world.

Key Takeaways

Elon Musk achieved a net worth of $500 billion on Wednesday.
The 54-year-old is the first person ever to reach the milestone.
Tesla stock is up approximately 13% year-to-date.

A couple of weeks ago, Oracle founder and Chief Technology Officer Larry Ellison took over the No. 1 spot as the wealthiest person in the world — but it was a brief time at the top. Tesla and SpaceX CEO Elon Musk quickly regained the lead by the end of the day.

Now, Musk has hit a major wealth milestone — the 54-year-old is the first person ever to surpass a $500 billion net worth, according to Forbes’ billionaires index.

Photo by Patrick T. Fallon / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images

Musk’s money is tied to his stake in Tesla, which is around 12%. Tesla shares are up around 13% year-to-date.

Last month, the company proposed a $1 trillion pay package for its CEO.

“It’s not about ‘compensation’, but about me having enough influence over Tesla to ensure safety if we build millions of robots,” Musk said in an X post in September. “If I can just get kicked out in the future by activist shareholder advisory firms who don’t even own Tesla shares themselves, I’m not comfortable with that future.”

Musk’s wealth has dropped below the $500 billion mark at press time. Bloomberg’s Billionaire Index lists him at $470 billion.

In March 2020, Musk was worth $26.4 billion, per Fox Business.

Key Takeaways

Elon Musk achieved a net worth of $500 billion on Wednesday.
The 54-year-old is the first person ever to reach the milestone.
Tesla stock is up approximately 13% year-to-date.

Now, Musk has hit a major wealth milestone — the 54-year-old is the first person ever to surpass a $500 billion net worth, according to Forbes’ billionaires index.