Tesla CEO Elon Musk has set a historic milestone by becoming the first individual to hold a net worth above USD 500 billion (approximately GBP 370.9 billion).
Reports highlight that the surge in his wealth comes from the rising valuations of Tesla, his AI venture xAI, and rocket company SpaceX over the past year.
According to Forbes’ Billionaires Index, Musk’s fortune reached USD 500.1 billion by midday on October 1 in New York, before slightly easing to USD 499 billion later in the day.
The achievement further strengthens Musk’s position as the world’s wealthiest man, far ahead of other global tech leaders. Oracle founder Larry Ellison ranks second with an estimated net worth of USD 350.7 billion.
Musk’s wealth remains largely tied to his 12%+ stake in Tesla, whose share prices have jumped more than 20% this year alone. On October 1, the company’s stock rose by over 3.3%.
Market analysts note that investor confidence has grown as Musk dedicates more attention to his companies, particularly Tesla, in recent months.
Still, Musk continues to attract controversy, with critics pointing to his ties with the Trump administration earlier this year.
Beyond Tesla and SpaceX, Musk also owns the social media platform X, expanding his influence across multiple industries.
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