Forbes projects Musk could become the world’s first trillionaire by 2033 as Tesla’s $1 trillion pay plan begins to vest.
Elon Musk has reportedly become the first person ever to reach a net worth of $500 billion, driven by a strong comeback in Tesla’s stock and the rising value of his other ventures, including SpaceX and xAI.
Musk’s fortune crossed the half-trillion mark around 3:30 p.m. Eastern Time on Wednesday, reaching $500.1 billion by 4:15 p.m., Forbes’ billionaires index showed. That puts him roughly $150 billion ahead of Oracle co-founder Larry Ellison, who ranks second on the list with $350.7 billion.
His fortune crossed $100 billion by the end of 2020, doubled that a year later, and reached $400 billion the following year before surpassing $500 billion this week. At this rate, Forbes believes he could be the first person ever to hit a trillion dollars by 2033, when Tesla’s massive $1 trillion pay deal starts to kick in.
Tesla shares jumped nearly 4% on Wednesday, adding about $9.3 billion to Musk’s net worth. The stock has almost doubled since April, when Musk stepped back from his role in President Donald Trump’s quasi-government agency, the Department of Government Efficiency, to refocus on Tesla. His 12.4% stake as of Sept.15 in the automaker is now valued at roughly $191 billion.
After a rocky start to the year, Tesla’s stock has been climbing again as investors gain confidence in Musk’s renewed involvement. Board chair Robyn Denholm said last month that Musk was back “front and center” at the company after several months at the White House. Soon after, he disclosed a $1 billion Tesla stock purchase, widely seen as a strong show of faith in the company’s future as it expands from electric vehicles into AI and robotics.
Still, Tesla remains one of the laggards among the “Magnificent Seven” tech giants, weighed down by soft car sales and margin pressures. To retain Musk’s focus and leadership, Tesla’s board has proposed a record-setting $1 trillion compensation plan that could give him up to 12% of the company’s stock if it reaches a market capitalization of $8.5 trillion and meets other performance targets over the next decade.
“It’s not about ‘compensation,’ but about me having enough influence over Tesla to ensure safety if we build millions of robots,” Musk said on X in September. “If I can just get kicked out in the future by activist shareholder advisory firms who don’t even own Tesla shares themselves, I’m not comfortable with that future.”
Beyond Tesla, Musk’s other ventures have also added to his massive fortune. SpaceX is valued at around $400 billion, contributing roughly $168 billion to his wealth. His AI startup xAI, valued at nearly $75 billion in July and reportedly eyeing a $200 billion valuation, adds about $60 billion.
Tesla’s market value is now within 10% of its all-time high, with the stock up nearly 14% year-to-date.
On Stocktwits, retail sentiment was ‘bullish’ amid ‘normal’ message volume.
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