Elon Musk has become the first person to cross the $500 billion net-worth mark.
This is because the value of Tesla, his electric car company, and his other businesses have risen in 2025.
Source: Getty Images
Musk’s net worth briefly reached $500.1bn on October 1 before dipping slightly to just over $499bn later in the day, according to Forbes’ billionaires index.
BBC reported that alongside Tesla, valuations of his other ventures, including the artificial intelligence startup xAI and rocket company SpaceX, have also reportedly climbed in recent months.
The milestone further cements Musk’s status as the world’s richest person, well ahead of rivals in the global tech sector.
According to Forbes’ billionaires index, Oracle founder Larry Ellison is the world’s second richest person, with a fortune of about $350.7bn.
Ellison briefly overtook Musk last month after shares in Oracle soared by more than 40%, boosted by the firm’s surprisingly rosy outlook for its cloud infrastructure business and artificial intelligence (AI) deals.
Musk’s huge wealth is closely tied to his more than 12% stake in Tesla, which has seen its shares rise sharply.
Tesla shares were more than 3.3% higher at the end of New York trading on Wednesday and have now risen by over 20% this year.
In September, Musk announced that he had bought about $1bn worth of Tesla shares in what has been seen by some investors as a vote of confidence in the firm.
Tesla has faced a number of challenges in recent years, including tough competition from rival electric car makers such as China’s BYD.
The company is also in the process of transitioning into an AI and robotics business.
Source: YEN.com.gh
Source: Yen.com.gh
