According to Forbes, Elon Musk has achieved another major milestone by becoming the first individual globally to reach $500 billion net worth. Although his wealth increased briefly to $500.1 billion before declining only to $499.1 billion, the accomplishment confirms his place as the richest man in the world by a significant margin.
Musk’s wealth puts him halfway to becoming the first trillionaire in history at the age of 54. The quick recovery of Tesla’s stock following months of market tension and political scandals is largely responsible for this remarkable increase. Although Musk’s investments in SpaceX and X (previously Twitter) help support his financial empire, Tesla continues to be the main source of his empire.
The following richest billionaires are far behind in this comparison. Larry Ellison of Oracle is ranked second with $350.7 billion, and Mark Zuckerberg of Meta is placed third with $245.8 billion. The gap demonstrates how Musk’s wealth exceeds that of both established billionaires in other industries and competitors in the IT sector.
Musk has had an absolutely remarkable financial journey. It started when he sold Zip2, his first software business, to Compaq in 1999. After co-founding PayPal, which was later acquired by eBay, he went on to start SpaceX and Tesla before purchasing Twitter. Despite obstacles and scandals, every business attempt has contributed to the development of the empire that has now made him the first individual to reach the $500 billion milestone.
Given SpaceX’s increasing supremacy in space exploration and Tesla’s ongoing expansion, many observers think Musk might become the first trillionaire in history this decade.
