Billionaire Elon Musk, the world’s richest person, is nearly halfway to becoming the planet’s first trillionaire, Forbes magazine reported Wednesday.
The Tesla and SpaceX CEO became the first person to achieve a net worth of $500 billion, briefly, as the shares in his electric vehicle company rebound from his clumsy stint in politics, amid other gains.
Elon Musk achieved yet another major milestone Wednesday, becoming the first ever person worth $500 billion. Musk, who became the first person ever worth $400 billion or more in December, is $150 billion ahead of runner-up Larry Ellison—and half-way to becoming the world’s first… pic.twitter.com/h9LJmAvT7F
— Forbes (@Forbes) October 1, 2025
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The 54-year-old’s net worth hit $500.1 billion Wednesday before dipping back to $499.1 billion, the publication’s “Real-Time Billionaires” tracker reported.
Ranked after him are Oracle CEO Larry Ellison with a net worth of $350.7 billion, followed by Meta CEO Mark Zuckerberg with a net worth of $245.8 billion on the Forbes list.
After graduating from the University of Pennsylvania and dropping out of Stanford University, Musk banked his first millions when he sold an online publishing software company to US computer maker Compaq for more than $300 million in 1999.
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His next company eventually merged with PayPal, and after leaving that venture, the South African-born tech entrepreneur founded space rocket company SpaceX in 2002 and became the chairman of electric carmaker Tesla in 2004.
The Path to Trillionaire Status
Musk’s journey toward becoming the world’s first trillionaire can be traced back to his substantial stakes in Tesla and SpaceX. Tesla, which has emerged as a leader in the electric vehicle market, has seen its stock price soar, particularly during the COVID-19 pandemic, when demand surged for electric vehicles. As of late 2021, Tesla’s market capitalization reached approximately $800 billion, significantly contributing to Musk’s wealth.
SpaceX has also been a pivotal player in Musk’s financial trajectory. The aerospace company has secured numerous contracts with NASA and private entities, focusing on reducing the costs of space travel and enabling human colonization of Mars. As of October 2023, SpaceX’s valuation has reached around $137 billion, further solidifying Musk’s standing as one of the wealthiest individuals globally.
Stock market performance plays a critical role in Musk’s net worth. Tesla’s stock has experienced notable volatility, often mirroring broader market trends within the automotive and technology sectors. For example, in late 2022, a decline in Tesla shares prompted analysts to speculate about the company’s growth potential. However, the stock rebounded in 2023, driven by increased global demand for electric vehicles and advancements in battery technology.