Elon Musk’s wealth hits new record high, surpasses $500B

Agenzia Nova, Philippine News Agency

Musk’s fortune continues to hinge on Tesla’s performance, with the automaker reporting 497,099 vehicle deliveries in the third quarter, a 7.4 percent year-on-year increase. (File Photo: Gage Skidmore/Flickr, CC BY-SA 2.0)

WASHINGTON – Elon Musk has become the first person in history to reach a personal net worth of USD500 billion, before dipping slightly to USD485.8 billion, according to real-time tracking by Forbes.

The Tesla and SpaceX founder remains firmly ahead of Oracle co-founder Larry Ellison, the world’s second-richest individual, by about USD136 billion.

Musk’s fortune continues to hinge on Tesla’s performance, with the automaker reporting 497,099 vehicle deliveries in the third quarter, a 7.4 percent year-on-year increase.

After a slump tied to Musk’s controversial appointment as head of the Department of Government Efficiency (Doge) under the Trump administration, Tesla’s valuation—and Musk’s wealth—has rebounded sharply.

Tesla is now proposing a new compensation plan that, if approved by shareholders this November, could award Musk 423 million shares valued at up to USD1 trillion – potentially making him the world’s first trillionaire. (Agenzia Nova)