Elon Musk's Net Worth Tops $500 Billion as Tesla Shares Surge
Tesla shares surged nearly 4% on Wednesday, pushing the stock price above $450 for the first time this year. This boost added an estimated $9.3 billion to Elon Musk's fortune, bringing his net worth to a record-breaking $500 billion.
Musk's 12% stake in Tesla is now worth around $191 billion, as the company's market cap approaches its all-time high. This remarkable growth comes after Musk stepped back from his role in the Trump administration to focus on Tesla. The tech mogul has rapidly increased his wealth over the past five years, previously surpassing $400 billion in December 2024.
In a significant move, Musk purchased $1 billion worth of Tesla stock in an open-market transaction, his first such purchase since 2020. Additionally, an unprecedented new compensation package could award Musk up to $1 trillion in Tesla stock if certain growth milestones are met. Musk's influence extends beyond Tesla. His AI and social media venture, xAI Holdings, is valued at $113 billion, with his majority stake worth around $60 billion. Musk also holds a 42% stake in SpaceX, currently valued at $168 billion. Recently, he ranked No. 2 on Time magazine's TIME100 AI list.
Elon Musk's net worth has reached an unprecedented $500 billion, making him the first person in history to achieve this milestone. With his significant stakes in Tesla, xAI Holdings, and SpaceX, Musk's influence and wealth continue to grow, shaping the future of technology and space exploration.
Read also:
- Industrial robots in China are being installed at a faster rate than in both the United States and the European Union, as the global market for these robots faces a downturn.
- NATO's Massive Naval Drill Shows Unity Against Russian Aggression
- Undeads Games Reaches $30 Million TVL and Gears Up for MMORPG Debut
- Hyundai N affirms transition to hybrid performance-centric models, initiating with Tucson N
