New Delhi, October 2: Elon Musk has shattered yet another record, cementing his place as the richest person the world has ever seen. On Wednesday, the Tesla and SpaceX chief executive’s net worth climbed to a staggering USD 500.1 billion, according to Forbes. This makes him the first individual in history to brush against the half-trillion-dollar milestone, an achievement fueled by his dominance across electric vehicles, space exploration, and artificial intelligence.

The surge in Musk’s wealth comes amid a sharp rebound in Tesla stock and booming valuations of his other companies, including rocket maker SpaceX and AI startup xAI. Tesla shares have risen more than 14% in 2025, with a single-day 4% rally on Wednesday alone adding more than USD 7 billion to Musk’s fortune. Elon Musk Net Worth Up by USD 6.9 Billion Today, Now at USD 437.8 Billion.

Elon Musk Net Worth

Tesla remains the primary driver of Musk’s massive fortune, but it is far from the only contributor. SpaceX, which continues to dominate the private space-launch industry, has reached record valuations as demand for satellite launches and reusable rockets grows. Meanwhile, Musk’s AI company, xAI, launched to rival OpenAI and other tech giants, is also rapidly gaining traction, further boosting his financial standing. Elon Musk Net Worth: Tesla CEO Reclaims Position of World’s Richest Person After Brief Overtake by Oracle Co-Founder Larry Ellison.

Just last month, Tesla’s board signaled Musk’s irreplaceable role in the company’s future by floating a jaw-dropping USD 1 trillion compensation package. The proposal underscores how central Musk is to Tesla’s ambitious push into AI-driven autonomous vehicles and robotics.

Trailing far behind Musk on Forbes’ billionaire tracker is Oracle co-founder Larry Ellison, whose net worth stood at USD 351.5 billion as of Wednesday — nearly USD 150 billion less than Musk.

Musk’s extraordinary ascent reflects his unique influence across industries: cars, rockets, satellites, and artificial intelligence. With nearly half a trillion dollars to his name, Elon Musk not only tops the billionaire rankings but also sets a historic benchmark that redefines global wealth.

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(The above story first appeared on LatestLY on Oct 02, 2025 09:06 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).