Elon Musk becomes first person with net worth of $500bn | Elon Musk

Elon Musk has turn into the primary individual to succeed in a internet value of $500bn (£372bn), bringing the Tesla chief govt midway to trillionaire standing.Musk’s wealth briefly crossed the half-trillion mark on Wednesday earlier than retreating to $499bn, in line with the Forbes billionaires listing.Musk owns 12% of Tesla, which is value greater than $1.5tn, and his wealth has been lifted this 12 months by a surge within the electrical carmaker’s share value.Tesla shares rose once more on Thursday after it beat forecasts for deliveries. The carmaker reported quarterly car deliveries of 497,099 for the July-September interval, as prospects took benefit of a tax credit score for consumers of electrical automobiles within the US earlier than it expired.The 54-year-old’s different companies embrace the rocket firm SpaceX, which was lately reported to be looking for a $400bn valuation, and xAI, a synthetic intelligence firm that had a valuation of $75bn as of July, in line with knowledge from Pitchbook. Musk owns a 42% stake in SpaceX.Tesla shares fell early this 12 months, hit by a mixture of the aggressive menace from Chinese language rivals, falling gross sales and doubts over Musk’s deal with the corporate, amid distractions from his different companies and his tempestuous relationship with Donald Trump. Musk’s vocal help for Trump and expression of rightwing political opinions on X, the social media platform he owns, have additionally broken Tesla gross sales, in line with analysts.Nevertheless, Tesla shares climbed by 70% during the last six months as investor sentiment improved on Musk bringing his focus again to his firms. They’re now 13% increased for the reason that begin of 2025.The Tesla board chair, Robyn Denholm, stated final month Musk was again “entrance and centre” on the firm after a number of months on the White Home.Days later, Musk disclosed his buy of about $1bn value of the shares in an enormous vote of confidence for the way forward for Tesla because it races to transition from an automaker to an AI and robotics powerhouse.The Tesla board final month proposed a $1tn compensation plan for Musk, setting out lofty monetary and operational targets for the CEO whereas additionally addressing his calls for for an even bigger stake within the firm.skip previous publication promotionA weekly dive in to how know-how is shaping our livesPrivacy Discover: Newsletters could include details about charities, on-line advertisements, and content material funded by outdoors events. If you happen to shouldn’t have an account, we’ll create a visitor account for you on theguardian.com to ship you this text. You’ll be able to full full registration at any time. For extra details about how we use your knowledge see our Privateness Coverage. We use Google reCaptcha to guard our web site and the Google Privateness Coverage and Phrases of Service apply.after publication promotionMusk’s place on the prime of the wealth league has nonetheless been shaky over the previous month. In September, Larry Ellison, co-founder of the enterprise software program agency Oracle, briefly overtook Musk because the world’s richest individual, in line with Bloomberg’s billionaires index – a rival to the Forbes listing.Bloomberg now has Musk approach forward of Ellison but it surely calculates the Tesla boss’s wealth as being $470bn, in contrast with Ellison’s $349bn.