• Elon Musk becomes the first person in history to achieve a net worth exceeding $500 billion.
• His wealth is largely attributed to the substantial rise in Tesla's stock, along with the growth of SpaceX and xAI.
• Musk's net worth briefly reached $500.1 billion before settling at approximately $499 billion.
• He holds over 12% of Tesla, which has seen its stock increase more than 14% this year.
• Oracle founder Larry Ellison is the second richest person, with a net worth around $350.7 billion.

On October 1, 2025, Elon Musk made history by becoming the first person ever to reach a personal net worth of over $500 billion, primarily fueled by a surge in Tesla's stock prices and rising valuations of his ventures including SpaceX and the AI startup xAI. His net worth was reported at $500.1 billion as of 4:15 p.m. E.T. according to Forbes' billionaires index, before slightly retracting to just above $499 billion later in the day, according to Reuters, BBC, and South China Morning Post.

Musk's substantial stake of over 12% in Tesla has significantly influenced his wealth. The company’s stock has climbed over 14% this year alone, and investor confidence has been buoyed by Musk's increased focus on his ventures as he stepped back from political engagements. Tesla shares rose by about 3.3% on the day Musk's net worth reached this milestone, adding more than $6 billion to his fortune that day, according to India Times, Africa News, and India Times.

Musk's wealth is complemented by his stakes in SpaceX and xAI, both of which have witnessed remarkable growth. SpaceX has been valued at approximately $400 billion, while xAI was previously estimated at around $75 billion and has ambitions of enhancing its valuation amid investor interest for technological innovation. Meanwhile, Oracle founder Larry Ellison trails Musk with a net worth near $350.7 billion, according to TRT Global and Business Insider.

Recently, Tesla's board proposed a potential $1 trillion compensation plan for Musk that reflects ambitious targets for the company’s market valuation to hit $8.5 trillion within a decade, amplifying investor optimism about Musk's leadership at Tesla India Times and Africa News.