Elon Musk Becomes World's First $500 Billionaire
Elon Musk has become the first person to reach a net worth of over $500 billion (£371 billion). This milestone comes after a significant increase in Tesla's stock price and the soaring valuations of his other startups, including SpaceX and xAI.
Musk's wealth surge is largely attributed to Tesla's strong stock performance. The company's shares have gained over 14% year-to-date and closed 3.3% higher the previous day, adding over $6 billion (£4.4 billion) to Musk's net worth. Despite being among the weakest performers in the 'magnificent seven' tech group due to declining vehicle sales and profit margin pressure, Tesla's stock has shown resilience.
Among Musk's other ventures, SpaceX was valued at approximately $400 billion (£296 billion) in July, while his artificial intelligence startup, xAI, was valued at $75 billion (£55 billion) around the same time. SpaceX, in particular, has contributed significantly to Musk's wealth increase, with no updated official July 2025 valuation available but an earlier valuation of around $168 billion based on his 42% stake. Musk's confidence in Tesla's future is evident, as he recently bought approximately $1 billion (£740 million) worth of the company's shares. Meanwhile, Tesla board chair Robyn Denholm noted Musk's increased involvement at the company after his time at the White House.
Elon Musk's net worth has surpassed $500 billion, driven by Tesla's stock performance and the valuations of his other companies, SpaceX and xAI. Despite challenges in the tech sector, Musk's wealth continues to grow, placing him at the top of the Forbes rich list, ahead of Larry Ellison with a net worth of about $350.7 billion (£260 billion).
