Elon Musk Becomes First Person to Reach $500 Billion Wealth Milestone
Elon Musk's wealth has soared to an unprecedented $500 billion, making him the first person in history to reach this milestone. His fortune has been boosted by a remarkable recovery in Tesla's stock price.
Musk's wealth is primarily tied to his stakes in Tesla and SpaceX. After hitting a low of around $460 in April, Tesla's stock has surged to its record high of nearly $488, last seen in late December. This has pushed Tesla's market capitalization back above $1.5 trillion. Musk's fortune was recently calculated at $499.1 billion by Forbes and $470 billion by Bloomberg.
Musk's political views and involvement with the Trump administration were initially thought to have weakened Tesla's sales. However, the company has since rebounded strongly. Musk first broke the $400 billion mark in wealth rankings in December, and has since extended his lead over Oracle co-founder Larry Ellison by approximately $150 billion.
Musk's fortune is set to grow further if Tesla's market capitalization reaches eight times its current value in the next decade. This would trigger a stock package that could see him receive up to 423 million shares in Tesla. The final decision on this unusual stock package will be made by Tesla shareholders at a meeting scheduled for November 6, 2025.
