Elon Musk’s Wealth Explodes to $500 Billion, Up From $24.6 Billion Just Four Years Ago, Crushing Larry Ellison by $150 Billion and Fueling Predictions He’ll Become Humanity’s First Trillionaire by 2033

FOX Business (@FoxBusiness) / X

Elon Musk Makes History as World’s First $500 Billion Man

Elon Musk has shattered records yet again, becoming the first person ever to amass a net worth of $500 billion, according to Forbes. The Tesla and SpaceX CEO’s fortune soared past the half-trillion mark around 3:30 p.m. ET on Wednesday, putting him a staggering $150 billion ahead of Oracle co-founder Larry Ellison, now the world’s second-richest individual.

Musk’s meteoric rise is nothing short of extraordinary. Just five years ago, in March 2020, his net worth stood at $24.6 billion. By late 2020, he broke the $100 billion barrier, doubled it in 2021, and by 2024, reached $400 billion. This week, he crossed the historic $500 billion threshold—a feat never before seen.

If Musk’s current trajectory continues, he could become the world’s first trillionaire by 2033, when Tesla’s proposed $1 trillion compensation package begins vesting, Forbes predicts.

elon musk in wisconsin

A Relentless Drive for Influence

Speaking at a town hall in Green Bay, Wisconsin, Musk emphasized that his pursuit isn’t just about compensation. “It’s not about ‘compensation’, but about me having enough influence over Tesla to ensure safety if we build millions of robots,” Musk explained in a post on X last September. “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.”

WASHINGTON, DC - FEBRUARY 03: Oracle co-founder, CTO and Executive Chairman Larry Ellison listens as U.S. President Donald Trump speaks to reporters in the Oval Office of the White House on February 03, 2025 in Washington, DC. After signing a series of executive orders and proclamations, Trump spoke to reporters about a range of topics including recent negotiations with Mexico on tarriffs. (Photo by Anna Moneymaker/Getty Images)

Tesla’s Surge Powers Musk’s Wealth

Tesla stock surged nearly 4% on Wednesday, adding an eye-popping $9.3 billion to Musk’s fortune. Since April, when Musk announced he would step back from leading President Trump’s Department of Government Efficiency (DOGE) to refocus on Tesla, the automaker’s stock has nearly doubled.

Tesla’s market capitalization is now within 10% of its all-time high, with Musk’s 12% stake valued at $191 billion. SpaceX, valued at $400 billion, contributes an estimated $168 billion to Musk’s net worth, while his majority stake in xAI Holdings is worth roughly $60 billion.

Tesla Palo Alto California

A Record-Shattering Pay Package

Last month, Tesla’s board proposed a jaw-dropping $1 trillion compensation plan for Musk—the largest ever for a corporate executive. If approved, Musk could receive up to 12% of Tesla’s stock, worth about $1 trillion, provided the automaker achieves ambitious targets, including an $8.5 trillion market cap and other operational milestones over the next decade.

As Musk’s empire continues to expand, the world watches in awe. With his relentless ambition and groundbreaking innovations, Elon Musk is redefining what’s possible—not just for himself, but for the future of technology and humanity.