Elon Musk, chief executive of Tesla and SpaceX, has become the first individual in history to cross a net worth of $500 billion, placing him on course to become the world’s first trillionaire, according to Forbes.
Forbes’ Real-Time Billionaires tracker reported that Musk’s fortune briefly reached $500.1 billion on Wednesday before settling at $499.1 billion. The surge follows a rebound in Tesla’s stock price after recent political controversies and continued growth in its business ventures.
The 54-year-old entrepreneur maintains a commanding lead on the global rich list. Oracle’s Larry Ellison is second with $350.7 billion, while Meta’s Mark Zuckerberg follows with $245.8 billion.
Musk’s path to wealth began in the late 1990s when he sold his first company, an online publishing software firm, to Compaq for over $300 million. He later co-founded a venture that merged with PayPal, providing him with capital for new projects.
In 2002, Musk established SpaceX, aiming to reduce the cost of space exploration, and in 2004, he became chairman of Tesla, steering the electric vehicle maker into one of the most valuable companies in the world. Both firms remain central to his wealth, with their market performance directly influencing his net worth.
Forbes noted that Musk’s continued innovation in transportation, renewable energy, and space technology could accelerate his march toward the trillionaire milestone, a status no individual has yet achieved.
