Tesla CEO Elon Musk has emerged as the first individual to achieve a net worth of almost USD 500 billion, and the reason behind its rapid growth is Tesla shares and skyrocketing valuations of his other businesses. As per Forbes’s renowned billionaire list, Musk’s overall wealth reached USD 500.1 billion by 4:15 PM ET on Wednesday, 01 October, 2025. The figure placed Musk in the position of the richest person globally, as compared to other business tycoons.
His wealth is still complicated and linked to Tesla, where he holds over a 12.4 percent stake as of mid-September. Shares of the electric car manufacturer have risen over 14 percent this year, even when its sales faced setbacks. On Wednesday alone, Tesla shares closed 3.3 percent up, increasing Musk’s wealth by over USD 6 billion.
Tesla Shares: Setback in the Year 2025
Whereas Tesla shares experienced a setback earlier this year, they are on an upward trend now. The turn has been attributed to Musk’s return to focus on his businesses. Tesla board chair Robyn Denholm has recently stated that Musk was now again “front and center” at the firm following months of distraction at the White House.
Musk also recently purchased almost USD 1 billion worth of shares in Tesla last month. Tesla is now competing to rebrand itself from a maker of cars in the classical sense into an artificial intelligence and robot leader.
Also Read: Jane Goodall, Legendary Primatologist and Conservationist, Dies at 91
Why Tesla Has Pushed the Stock Down This Year
Even though Tesla continues to come under pressure. Slowing car sales and contracting profit margins have pushed the stock down, making it one of the laggards of the “Magnificent Seven” technology giants. In response, the board has proposed a USD 1 trillion pay package for Musk, linking his payouts to ambitious financial and operating targets while also providing him with the larger stake he has been insisting on.
Musk’s expanding empire beyond Tesla has also helped drive his fortune. His artificial intelligence company, xAI, was previously valued at USD 75 billion in July, with reports indicating it could be targeting a USD 200 billion valuation soon. Musk, however, dismissed plans for raising new funds.
In the meantime, his rocket firm, SpaceX, keeps growing. Bloomberg News last month said the company was mulling a funding round worth about USD 400 billion.
Also Read: RCB Sale Rumours Heat Up: Adar Poonawalla Confirms Interest in Highly Valued Franchise
