Last Updated:
While Tesla’s shares saw a stumble earlier this year, they are on a steady climb now. The positive shift has been linked to Musk’s renewed focus on his companies.
SpaceX, X and Tesla CEO Elon Musk (IMAGE: REUTERS)
Tesla owner Elon Musk has become the first person to reach a net worth of nearly USD 500 billion, and the credit for that goes to a strong rebound in Tesla’s stock and soaring valuations of his other companies.
According to Forbes’ billionaire index, Musk’s total wealth touched USD 500.1 billion as of 4:15 PM ET on Wednesday. This makes Musk the richest individual in the world, far ahead of other business leaders.
Recommended Stories
His fortune remains closely tied to Tesla, where he owns a stake of more than 12.4 per cent as of mid-September. The electric carmaker’s shares have gained more than 14 per cent this year, despite facing challenges in sales. On Wednesday alone, Tesla stock closed 3.3 per cent higher, adding more than USD 6 billion to Musk’s wealth.
While Tesla’s shares saw a stumble earlier this year, they are on a steady climb now. The positive shift has been linked to Musk’s renewed focus on his companies. Tesla board chair Robyn Denholm recently said Musk was now back “front and center” at the company after months of distraction at the White House.
Musk also recently bought nearly USD 1 billion worth of Tesla shares last month. Tesla is currently racing to transform itself from a traditional carmaker into a leader in artificial intelligence and robotics.
Even if Tesla continues to remain under pressure. Weak car sales and shrinking profit margins have dragged the stock down, placing it among the laggards of the “Magnificent Seven” tech giants. In response, the board has put forward a USD 1 trillion pay package for Musk, tying his rewards to bold financial and operational goals while also giving him the bigger stake he has been demanding.
Musk’s growing empire outside Tesla has also fuelled his wealth. His artificial intelligence venture, xAI, was last valued at USD 75 billion in July, and reports suggested it could be aiming for a USD 200 billion valuation in the near future. Musk, however, denied plans to raise fresh funds.
Meanwhile, SpaceX, his rocket company, continues to expand. Bloomberg News reported in July that the firm was considering a funding round that would value it at around USD 400 billion.
About the Author
Anushka Vats is a Sub-Editor at News18.com with a passion for storytelling and a curiosity that extends beyond the newsroom. She covers both national and international news. For more stories, you can follow her…Read More
Anushka Vats is a Sub-Editor at News18.com with a passion for storytelling and a curiosity that extends beyond the newsroom. She covers both national and international news. For more stories, you can follow her… Read More
October 02, 2025, 08:16 IST
Loading comments…
Read More
 "G7 ministers vow to take action against countries increasing Russian oil purchases")
