Musk becomes first person ever to reach $500 billion net worth, report says

By
Paraluman P. Funtanilla
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NEW YORK — Elon Musk has made history as the first individual to achieve a net worth of $500 billion, according to Forbes. His fortune crossed the half-trillion mark around 3:30 p.m. Eastern Time, placing him about $150 billion ahead of Oracle co-founder Larry Ellison, currently ranked as the second-richest person in the world.

Musk’s rise in wealth has been meteoric. In March 2020, his net worth stood at $24.6 billion; by late 2020, he had passed $100 billion, by 2021, he surpassed $200 billion, and in 2024, he became the first person to exceed $400 billion. At his current trajectory, some analysts believe he could become the world’s first trillionaire by 2033, especially if Tesla’s proposed $1 trillion compensation plan begins vesting.

Much of Musk’s wealth is tied to Tesla, where he holds a roughly 12.4 % stake. Tesla shares rose more than 14 % this year, and a 3.3 % gain on Wednesday alone contributed over $6 billion to his net worth. Other ventures, such as his AI company xAI and his space exploration firm SpaceX, also play key roles in his valuation.

Tesla’s board has proposed a compensation package for Musk that, if fully realized, could stretch into the trillions and hinges on ambitious performance goals. Meanwhile, rival fortunes have shifted: Ellison now trails Musk by an estimated $150 billion.

While Musk now claims a new milestone, market volatility could swing valuation estimates. Even so, his ascent underscores how symbolic and literal wealth accumulation continues to intersect with technology, markets, and leadership in the 21st century.

Author profile
Paraluman P. Funtanilla
Contributing Editor

Paraluman P. Funtanilla is Tutubi News Magazine's Marketing Specialist and is a Contributing Editor.  She finished her degree in Communication Arts in De La Salle Lipa. She has worked as a Digital Marketer for start-up businesses and small business spaces for the past two years. She has earned certificates from Coursera on Brand Management: Aligning Business Brand and Behavior and Viral Marketing and How to Craft Contagious Content. She also worked with Asia Express Romania TV Show.

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