Tesla CEO Elon Musk made headlines on Wednesday, October 1, 2025, by becoming the first individual in history to reach an estimated net worth of nearly $500 billion. This colossal financial milestone was primarily driven by a significant rebound in the electric vehicle (EV) company’s shares and the rapidly increasing valuations of the tech entrepreneur’s other groundbreaking startups.
According to Forbes’ billionaires index, Musk’s net worth soared to $499.5 billion as of 3:55 p.m. E.T. A major contributor to this exponential growth has been Tesla’s stock performance, which has seen an impressive rise of over 14% this year alone. On Wednesday, the shares climbed by nearly 4%, adding more than $7 billion to his already immense fortune.
Further highlighting his deep influence, the Tesla board recently proposed an extraordinary $1 trillion compensation package for Musk. This ambitious plan underscores his critical role as the company pushes forward with its transformation into a powerhouse in artificial intelligence and robotics.
Following closely behind Musk on Forbes’ prestigious list of the world’s wealthiest individuals is Oracle founder Larry Ellison, whose net worth stood at approximately $351.5 billion as of the same day.