In a historic feat, Elon Musk is now the first person ever to have a net worth of $500 billion, according to Forbes. On Wednesday (US time), the world’s richest man on the planet leapt even closer to becoming the first trillionaire, standing $150 billion ahead of Oracle Chief Technology Officer Larry Ellison in the race.
Tesla’s contribution to Elon Musk’s billionaire net worth
Musk cracked the mind-boggling milestone after Tesla shared soared by nearly 4% as of 3:30 pm ET on October. The swift surge help adding an estimated $9.3 billion to his net worth, and it’s all thanks to Elon’s re-aligning his priorities with the brand’s well-being after his departure from the Donald Trump admin team.
Ever since Musk let go of his post as the head of the Department of Government Efficiency (DOGE), the company’s stock price is believed to have doubled. On the personal side, the EV maker boss’ own 12% stake in the company is now worth $191 billion.
This doesn’t include the performance-based stock options from the 2018 CEO compensation package, which would now be estimated at $133 billion. Alas, Musk never got his hands on that award since a Delaware judge voided it in January 2024.
Elon Musk also has SpaceX, xAI to thank for close trillionaire race
His half-a-trillion-dollar fortune is also attributed to the other company he heads – SpaceX. Since its 2002 creation, the company has now climbed up to its $400 billion evaluation, according to a private tender offer in August. Musk’s estimated 43% stake in the rocket maker is worth $168 billion.
And then, Musk also founded xAI Holdings in March, when he merged his new AI company xAI with social media platform X, formerly Twitter. The richest person in the world’s estimated 53% stake in xAI Holdings is worth $600 billion.
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