Elon Musk Becomes First Person Worth $500 Billion

According to the Forbes Billionaires Index, Musk’s net worth briefly reached $500.1 billion on the evening of October 1, before slightly dropping to just over $499 billion. In addition to Tesla, the valuations of his other ventures — SpaceX and the AI startup xAI — have also grown significantly in recent months.

This milestone further solidifies Musk’s status as the richest person in the world, leaving other tech industry giants far behind.

According to Forbes, the world’s second-richest person is Oracle founder Larry Ellison, with a net worth of approximately $350.7 billion. Ellison briefly overtook Musk last month after Oracle shares surged over 40% on the back of strong forecasts and AI-related deals.

Musk’s enormous fortune is largely tied to his over 12% stake in Tesla, whose shares have seen notable gains in 2025.