Musk’s fortune tops $500 billion, on track to be first trillionaire

Elon Musk’s net worth has surpassed $500 billion for the first time, putting him halfway to becoming the world’s first trillionaire, Forbes Real-Time Billionaires data showed on October 1.

Musk, who last December became the first person worth more than $400 billion, now leads Oracle founder Larry Ellison by over $150 billion.

Tesla shares rose nearly 4% on Wednesday, adding $9.3 billion to Musk’s wealth. His 12% stake in Tesla is valued at $191 billion, as the company’s market cap returned within 10% of its record high. Tesla’s board has also proposed a record compensation package that could award Musk up to $1 trillion in stock if the company grows eightfold over the next decade.

Musk’s other ventures also continue to gain value. SpaceX was valued at $400 billion in a private tender in August, with Musk’s 42% stake worth $168 billion. Meanwhile, his 53% stake in xAI Holdings — a merger of AI firm xAI and social network X — is valued at $60 billion.

Analysts project Musk could become the world’s first trillionaire by March 2033.