Elon Musk Becomes The First Person Ever To Reach $500 Billion Net Worth

<p>Elon Musk has officially shattered the billionaire ceiling, becoming the first person in history to amass a net worth of $500 billion. The milestone, reached on Wednesday, comes amid a surge in Tesla shares and rising valuations of Musk&rsquo;s private ventures, including SpaceX and his AI startup, xAI.</p>
<p>According to Forbes&rsquo; real-time billionaire tracker, Musk&rsquo;s fortune hit $500.1 billion at 4:15 p.m. ET, following a 3.3% jump in Tesla stock. That single-day rally added over $6 billion to his net worth, reinforcing his status as the world&rsquo;s wealthiest individual.</p>
<p>Tesla remains the cornerstone of Musk&rsquo;s fortune. The electric vehicle giant&rsquo;s shares have climbed more than 14% so far this year, with Wednesday&rsquo;s gains alone contributing over $7 billion to Musk&rsquo;s personal wealth. His stake in Tesla, which stood at more than 12.4% as of mid-September, continues to be the primary engine behind his financial ascent.</p>
<p>After a rocky start to the year, Tesla shares have rebounded as investor confidence returned, fueled by Musk&rsquo;s renewed focus on the company. Tesla Board Chair Robyn Denholm noted last month that Musk is back &ldquo;front and center&rdquo; at the company after spending several months away at the White House.</p>
<p>Further signaling his confidence, Musk recently disclosed the purchase of around $1 billion in Tesla stock, underscoring his commitment to the company as it aims to pivot from an automaker to a hub for AI and robotics innovation.</p>
<p>Yet Tesla&rsquo;s journey hasn&rsquo;t been without hurdles. Weak car sales and persistent margin pressures have weighed on the stock, making it one of the underperformers among the so-called &ldquo;Magnificent Seven&rdquo; megacap tech companies. To keep Musk motivated and aligned with the company&rsquo;s ambitious goals, Tesla&rsquo;s board recently proposed a $1 trillion compensation plan, setting ambitious financial and operational targets for the CEO.</p>
<p>Musk&rsquo;s wealth isn&rsquo;t tied to Tesla alone. His ventures in AI and space have also surged in value this year. xAI, Musk&rsquo;s artificial intelligence company aimed at rivaling OpenAI, was last valued at $75 billion in July. Reports in September suggested the startup was eyeing a $200 billion valuation, though Musk clarified that it was not raising capital at the time.</p>
<p>Meanwhile, SpaceX, the private space-launch powerhouse, has seen its valuation climb, with Bloomberg reporting discussions to raise funds that could value the company around $400 billion. These private ventures add another layer to Musk&rsquo;s unprecedented fortune, highlighting his influence across multiple industries.</p>
<p>Trailing far behind is Oracle co-founder Larry Ellison, who ranks as the world&rsquo;s second-richest person with a net worth of roughly $351 billion.</p>