Overview

• Forbes estimated Musk’s wealth at $499.5 billion as of 19:55 GMT on Wednesday, making him the first person to approach the $500 billion mark.
• Tesla shares rose nearly 4% on the day, adding more than $7 billion to Musk’s net worth, and are up more than 14% this year.
• Private valuations for Musk’s xAI and SpaceX have increased this year, adding to the estimated total.
• Tesla’s board recently proposed a performance-based compensation plan framed at $1 trillion, as litigation over Musk’s earlier 2018 package continues in Delaware.
• Forbes’ calculation reflects equity-based valuations that fluctuate with markets and does not represent immediately liquid wealth; Larry Ellison ranked second at about $351.5 billion.