Elon Musk, the CEO of Tesla and SpaceX, has become the first person in history to reach a net worth of $500 billion, positioning him halfway toward becoming the world’s first trillionaire, according to Forbes.
Musk's fortune briefly touched $500.1 billion on Wednesday before settling at $499.1 billion, driven by a nearly 4% surge in Tesla shares that added an estimated $9.3 billion to his wealth.
The milestone reflects his lead over rivals, with Oracle co-founder Larry Ellison trailing by about $150 billion.
Analysts project that if Musk maintains his current growth pace, he could achieve trillionaire status before March 2033, coinciding with vesting dates for his proposed $1 trillion Tesla compensation package.
Tesla's stock has nearly doubled since Musk announced in April that he would step back from leading President Trump’s Department of Government Efficiency (DOGE) to refocus on the electric vehicle maker.
His 12% stake in Tesla is now valued at $191 billion, bolstered by the company's push into AI, robotics, and autonomous driving.
SpaceX, valued at $400 billion following a private tender offer in August, further pads his portfolio through Musk's 42% ownership.
Tesla's board recently proposed a massive pay package that could accelerate his wealth if the company hits ambitious targets, including boosting its market cap to $8.5 trillion.
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