Elon Musk has earned a new title: the half-trillion-dollar man. On Wednesday, the Tesla chief executive’s net worth soared past the $500 billion mark for the first time ever, a figure that underscores the immense scale of his industrial and technological empire. While his wealth slightly retreated to $499 billion, the achievement sets a new benchmark for personal fortune.
The spectacular rise is almost entirely a Tesla story. The electric vehicle giant, now valued at over $1.5 trillion, has seen its stock price climb throughout the year, directly inflating the value of Musk’s 12% ownership stake. This ascent marks a significant turnaround from a shaky start to the year, reflecting renewed investor faith in Musk’s leadership and the company’s direction.
This faith was recently rewarded with blockbuster delivery numbers. Tesla announced it had delivered 497,099 vehicles in the third quarter, exceeding all forecasts. The impressive figures were boosted by customers in the United States rushing to take advantage of an expiring tax credit for electric vehicle purchases, showcasing the company’s ability to capitalize on market conditions.
While Tesla is the main driver, Musk’s wealth is also supported by his other ambitious projects. The aerospace firm SpaceX, in which he holds a 42% stake, is reportedly chasing a $400 billion valuation. His new AI company, xAI, is not far behind in attracting investor interest, boasting a $75 billion valuation earlier in the summer. These ventures cement his status as a titan of future-focused technology.
Despite briefly losing the top spot on the world’s richest list to Oracle’s Larry Ellison in September, Musk is now firmly back in the lead. His recent actions, including a massive $1 billion investment in Tesla stock and a board-proposed $1 trillion compensation plan, signal his confidence and deep involvement in steering the company towards a future dominated by AI and robotics.