Elon Musk now worth $500 Billion as he Takes the Spot as Richest Man on the Planet Once Again¡

By Michael Ehindero

Elon Musk achieved yet another major milestone Wednesday, becoming the first ever person worth $500 billion.



The richest person on the planet is now worth $500 billion, as of Wednesday, 1st October, Musk, who became the first person ever worth $400 billion or more in December, is $150 billion ahead of runner-up of Oracle's Larry Ellison and half-way to becoming the world’s first trillionaire.

Shares of Tesla climbed by nearly 4% Wednesday, adding an estimated $9.3 billion to Musk’s fortune, as investors continue to celebrate the prospect of a refocused Musk. The EV maker’s stock price has nearly doubled since Musk first announced on the company’s April earnings call that he would be stepping back from his role as head of President Trump’s Department of Government Efficiency (DOGE) to spend more time on Tesla. 

With Tesla’s market cap back within 10% of the all-time high it hit in December, Musk’s 12% stake in the company is now worth $191 billion. 

That’s excluding performance-based Tesla stock options from Musk’s 2018 CEO compensation package that would be worth $133 billion today if the award hadn’t been voided by a Delaware judge in January 2024.

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