Musk turns into first particular person to hit $500 billion web value, Forbes checklist exhibits – One America Information Community

[ad_1] By ReutersOctober 2, 2025 – 4:09 AM PDT

<img decoding="async" width="800" height="533" src="https://www.oann.com/wp-content/uploads/2025/03/GettyImages-1239416791.webp" alt="Tesla CEO Elon Musk is pictured as he attends the start of the production at Tesla's "Gigafactory" on March 22, 2022 in Gruenheide, southeast of Berlin. - US electric car pioneer Tesla received the go-ahead for its "gigafactory" in Germany on March 4, 2022, paving the way for production to begin shortly after an approval process dogged by delays and setbacks. (Photo by Patrick Pleul / POOL / AFP) (Photo by PATRICK PLEUL/POOL/AFP via Getty Images)" class="wp-image-633564" srcset="https://www.oann.com/wp-content/uploads/2025/03/GettyImages-1239416791.webp 800w, https://www.oann.com/wp-content/uploads/2025/03/GettyImages-1239416791-400x267.webp 400w, https://www.oann.com/wp-content/uploads/2025/03/GettyImages-1239416791-768x512.webp 768w" sizes="(max-width: 800px) 100vw, 800px"/> Tesla CEO Elon Musk. (Photograph by Patrick Pleul / POOL / AFP) (Photograph by PATRICK PLEUL/POOL/AFP through Getty Photographs)

(Reuters) – Elon Musk on Wednesday turned the primary particular person to surpass $500 billion in web value, powered by a rebound in Tesla’s (TSLA.O) share worth this 12 months and swelling valuations of his different tech ventures.

The milestone comes just below a 12 months after Musk’s web value crossed $400 billion and underscores his lead because the world’s richest particular person.

Musk’s fortune briefly hit $500 billion on Wednesday, earlier than settling at $499.1 billion at 5 p.m. ET, in accordance with Forbes’ billionaires index.

His wealth is tied carefully to his about 12% stake in Tesla, the world’s most useful automaker. The electrical-vehicle maker’s inventory has climbed about 14% thus far this 12 months after a uneven begin.

Musk final month disclosed his buy of about $1 billion value of Tesla shares, in what was seen as a vote of confidence as the corporate races to transition from an automaker to an AI and robotics powerhouse.

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The carmaker’s board final month proposed a $1 trillion compensation plan for Musk, setting out lofty monetary and operational targets for the CEO whereas additionally addressing his calls for for an even bigger stake within the firm.

The package deal is the biggest ever supplied to a company govt and buyers anticipate the pay plan to deepen Musk’s deal with Tesla at a time when he has juggled commitments throughout a number of ventures.

The inventory has risen 35.7% because the package deal was disclosed on September 5.

FROM AUTOS TO AEROSPACE TO AI

His ventures, through the years, have given Musk an outsized sway over expertise industries, from electrical automobiles and clear power to satellite tv for pc communications and synthetic intelligence.

Musk’s AI startup xAI and rocket firm SpaceX have additionally scaled their valuations this 12 months and are reportedly elevating funds at $200 billion and $400 billion valuations, respectively.

The AI startup, valued at $75 billion in July, is increasing a supercomputer, dubbed “Colossus”, to coach large-scale fashions as its Grok chatbot seeks to rival established gamers corresponding to OpenAI’s ChatGPT and Google’s Gemini.

SpaceX has cemented its dominance within the industrial area sector, working the world’s largest satellite tv for pc community by means of Starlink whereas capturing the majority of U.S. launch contracts.

The corporate additionally persistently launches probably the most rockets on this planet, repeatedly serving the Worldwide Area Station and carrying satellites for rival networks.

Oracle (ORCL.N) founder Larry Ellison follows Musk because the second-richest particular person on Forbes’ checklist, with a web value of about $350.7 billion as of Wednesday.