Tesla and SpaceX chief Elon Musk has reached an extraordinary milestone, becoming the first individual in history to amass a personal fortune of $500 billion. According to reports from Forbes, the entrepreneur’s wealth crossed the half-trillion mark on Wednesday afternoon, setting yet another historic record in his remarkable journey from Silicon Valley engineer to the world’s richest man.
From $24 Billion to $500 Billion in Just Four Years
Musk’s rise has been nothing short of astonishing:
In March 2020, his fortune stood at around $24.6 billion.
By the end of 2020, it soared past $100 billion.
In 2021, he became the first person to exceed $200 billion.
By 2024, his net worth hit $400 billion.
And this week, Musk officially crossed the $500 billion milestone.
At this rate, experts suggest Musk could become the world’s first trillionaire by 2033, provided Tesla achieves its ambitious growth targets.
Tesla and SpaceX Drive Musk’s Fortune
Musk’s vast wealth comes primarily from his stakes in Tesla, SpaceX, and his artificial intelligence company, xAI Holdings.
Tesla: Shares jumped nearly 4% on Wednesday, adding $9.3 billion to Musk’s net worth. The electric carmaker’s market capitalisation is now within 10% of its all-time high, with Musk’s 12% stake valued at $191 billion.
SpaceX: Valued at $400 billion, the space exploration company contributes about $168 billion to his wealth.
xAI Holdings: Musk’s AI venture is currently valued at $60 billion, according to Forbes.
The Road to Becoming a Trillionaire
The Tesla board has recently proposed a record-breaking $1 trillion compensation plan for Musk. If approved, this package would be the largest executive pay deal in history.
The deal would give Musk up to 12% of Tesla’s stock, valued at around $1 trillion, but only if the company hits strict performance goals. These include:
Reaching a market capitalisation of $8.5 trillion.
Achieving key operational and technological milestones over a 10-year period.
This could set Musk on the path to becoming the world’s first trillionaire within the next decade.
Musk Responds to Critics
Despite his astronomical fortune, Musk insists that his motivation goes beyond money. In a post on X (formerly Twitter), he explained:
“It’s not about compensation, but about me having enough influence over Tesla to ensure safety if we build millions of robots. If I can just get kicked out in the future by activist shareholder advisory firms who don’t even own Tesla shares themselves, I’m not comfortable with that future.”
This comment reflects Musk’s long-standing concern about retaining influence over Tesla as it pushes into robotics and artificial intelligence.
Market Moves and Political Shifts
Musk’s recent wealth surge has also been supported by his decision to step back from his role leading President Trump’s Department of Government Efficiency (DOGE) earlier this year, allowing him to refocus on Tesla.
Since April, Tesla’s stock price has nearly doubled, further strengthening Musk’s position as the world’s richest man.
A New Era of Wealth Creation
With his net worth now at $500 billion, Elon Musk is not only rewriting the record books of personal fortune but also raising new questions about executive pay, corporate influence, and the future of global wealth distribution.
Whether he reaches the $1 trillion milestone or not, one thing is clear: Musk’s financial journey is unlike anything the world has ever seen before.
Sources:
Forbes wealth rankings
Fox Business reports
Tesla and SpaceX valuation data
For Health & Fitness Products, Click => http://tinyurl.com/5n872ptd