Elon Musk’s net worth recently surged to $500 billion, marking a significant milestone according to Forbes. This remarkable financial leap is attributed to a rise in Tesla’s stock price, which has seen substantial gains in recent months. Reports indicated that Musk’s fortune increased by approximately $10 billion from the previous day, positioning him on a potential path to becoming the world’s first trillionaire.
The figures presented by Forbes showed Musk’s net worth fluctuating throughout the day on the publication’s “Real-Time Billionaires” rankings. In contrast, the Bloomberg Billionaires Index, which employs a different methodology for tracking the wealth of the world’s richest individuals, estimated Musk’s net worth at $459 billion. This discrepancy between the two sources is attributed to their different approaches: Forbes relies on interviews and annual research, while Bloomberg offers daily updates based on stock prices and financial ratios.
While both ratings agree on the top three wealthiest individuals, they diverge in their estimations. Larry Ellison, co-founder of Oracle, is recognized as the second-richest person globally by both outlets, with Forbes estimating his wealth at $349.1 billion against Bloomberg’s $340 billion. Following them is Mark Zuckerberg, the founder of Meta, whose net worth is estimated at $246.7 billion by Forbes and $258 billion by Bloomberg. Amazon founder Jeff Bezos rounds out the top four, with Forbes valuing his wealth at $233.6 billion, while Bloomberg places it higher, at around $243 billion.
Musk’s wealth predominantly stems from his stakes in privately held entities such as SpaceX and xAI, alongside significant early investments in PayPal. His prominence in the tech world extends beyond Tesla, further enhanced by his appointment to address government efficiency, a role he swiftly departed from to focus on his diverse business ventures earlier this year.
Tesla’s recent stock performance has been particularly striking, with shares surging approximately 35% since the beginning of September, settling at about $460 as of the last report. Furthermore, Tesla’s board has approved a lucrative annual pay package for Musk, one that could potentially secure his status as a trillionaire. However, this incentive-laden arrangement has drawn criticism, notably even from figures such as Pope Leo XIV.
