Elon Musk’s wealth has reached an extraordinary milestone, becoming the first individual to amass a fortune of $US500 billion (approximately $756 billion). This achievement follows a nearly 4 per cent rise in Tesla’s share prices, which added approximately $US9.3 billion to his net worth as reported by Forbes.
Since April, Tesla’s stock has almost doubled in value, a surge that coincided with Musk’s announcement to focus more on the electric vehicle company after stepping down from his role leading the Department of Government Efficiency (DOGE) under former U.S. President Donald Trump.
Currently, Musk holds a 12 per cent stake in Tesla, valued at $US191 billion. However, this amount could be significantly higher if a 2018 stock options compensation package worth $US133 billion had not been voided by a court earlier this year. Forbes has since discounted the value of these options by 50 percent while awaiting the outcome of Musk’s appeal.
Looking ahead, Musk’s fortune could potentially soar to $US1 trillion by 2033, particularly given a generous pay package proposed by Tesla’s board that would award him additional shares if certain ambitious company targets are met. This package could entitle him to up to 423.7 million extra shares, potentially elevating his wealth to unprecedented levels should Tesla’s stock see substantial growth.
Alongside Tesla, Musk’s fortune is also supported by his significant holdings in other ventures. His 42 per cent ownership in SpaceX is currently valued at around $US168 billion, while his shares in xAI Holdings, the AI firm he established, are worth approximately $US60 billion. Musk’s diversified investments in both electric vehicles and space exploration contribute significantly to his remarkable financial status.