Tesla CEO Elon Musk on Wednesday (October 1, 2025) became the first person in history to achieve a net worth of nearly $500 billion, propelled by a rebound in the EV company's shares and surging valuations of the tech entrepreneur's other startups.

Mr. Musk's net worth stood at $499.5 billion as of 3:55 p.m. E.T., according to Forbes' billionaires index.

Tesla stock has been driving the increase in Mr. Musk's net worth. The shares have risen more than 14% so far this year and climbed nearly 4% on Wednesday (October 1, 2025), adding more than $7 billion to his net worth.

The Tesla board last month proposed a $1 trillion compensation plan for Mr. Musk, underscoring the hold he has over the carmaker as it attempts to transform into an AI and robotics powerhouse.

Oracle founder Larry Elli

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