Elon Musk becomes the first person in the world to reach $500 billion in wealth

On October 1, American businessman Elon Musk became the first person in history with a fortune of half a trillion dollars.

This is reported by Forbes.

Back in December, Musk became the worldʼs first businessman with a fortune of $400 billion, and is now halfway to the trillion-dollar mark.

Shares of one of Muskʼs companies, Tesla, rose 4% on Wednesday, giving him an additional $9 billion. According to Forbes, the companyʼs stock has nearly doubled in value since Musk reported in April that he was stepping down as head of the Department of Government Efficiency (DOGE) to focus more on Tesla.

Currently, the 12% stake owned by the American businessman is valued at $191 billion.

Musk also owns about 42% of the shares of the space company SpaceX, worth $168 billion. Its valuation has increased to $400 billion from $350 billion in December 2024.

In addition, Musk controls about 53% of xAI Holding, a company founded in March 2025 and merged with the social network X. The holding is worth $113 billion, and Muskʼs share is $60 billion.

According to experts, at the current pace, Musk could become the worldʼs first trillionaire by March 2033. Thatʼs when one of his $1 trillion compensation packages at Tesla should take effect.

What preceded

Elon Musk spent hundreds of millions to re-elect Trump and headed the Department of Government Efficiency (DOGE), which was tasked with cutting government spending. However, in May, he announced that he was leaving government service.

As Trump began pushing his “big, beautiful” bill, he and Musk also publicly clashed. Asked on X what had made him switch from loving Trump to attacking him, Musk replied:

“Increasing the deficit from an already insane $2 trillion under Biden to $2.5 trillion. That would bankrupt the country.”

Trump threatened to cut off billions of dollars in federal subsidies that Musk’s companies receive.

And in July, Musk announced the creation of the American Party. The American space company SpaceX noted in new investor documents that its founder Elon Musk may again actively participate in political activities in the United States.

In late August, the WSJ reported that Musk had put on hold plans to form his own political party, which he had previously reported. Instead, he is seeking to maintain ties with the US Vice President J.D. Vance and may support him in the election. However, Musk himself denies this.

For more news and in-depth stories from Ukraine, please follow us on X.