The Tesla and SpaceX chief, Elon Musk, has become the first individual to approach a net worth of $500 billion, according to Forbes.
The achievement still places him far above rivals, including Oracle’s Larry Ellison, who has an estimated net worth of $350 billion. Unlike many billionaires, Musk’s net worth is harder to measure.
This is primarily because most of his fortune is tied to private companies that are not publicly traded. As a result, external estimates often remain speculative and subject to rapid changes.
The Engines of Musk’s Fortune
The bulk of Musk’s wealth remains tied to Tesla, the electric vehicle giant, and SpaceX, his aerospace company. Together, they form the backbone of his financial empire.
In addition, Musk has steadily expanded into new areas. For instance, he owns X (formerly Twitter), xAI, an artificial intelligence startup, and Neuralink, a company developing brain implants. While these ventures are smaller in comparison, they highlight Musk’s ambition to diversify his empire beyond cars and rockets.
Rise During Political Shifts
Musk first crossed the $400 billion threshold in December 2024. At that time, investors speculated Tesla might benefit from his perceived ties to newly elected US President Donald Trump. Musk even made several visits to the White House early in Trump’s presidency, building on the close relationship established during the campaign.
However, the alliance quickly soured. Soon after, Trump threatened to cut federal support for Musk’s companies, creating fresh uncertainty for Tesla and SpaceX.
Consequently, this political turbulence coincided with a slowdown in Tesla sales. At the time, analysts noted that Musk’s outspoken right-leaning political views and his defense of Trump’s controversial cost-cutting programs appeared to alienate a portion of Tesla’s eco-conscious customer base.
Tesla’s Comeback and Growth Bets
Despite these headwinds, Tesla has since staged a strong recovery. Its stock price has risen in recent months, largely due to excitement around robotaxis and robotics projects.
Moreover, a surge in sales just before the expiration of federal electric vehicle tax incentives in September gave the company an additional boost. Together, these factors have played a key role in pushing Musk’s net worth toward the record-breaking half-trillion-dollar mark.
Musk and Dogecoin: The “DOGE Father”
Beyond cars and rockets, Musk’s influence also extends into the world of cryptocurrency. He has long promoted Dogecoin. In crypto circles, he is popularly known as the “DOGE Father.”
In fact, in 2019, Musk jokingly referred to himself as the “CEO of Dogecoin”. His frequent social media posts have since helped propel the coin into the world’s top 10 cryptocurrencies.
Then, in 2021, Tesla introduced Dogecoin as a payment option for company merchandise. The option has remained available since, making Tesla one of the few major firms that officially support the meme coin.
Last year, Musk had even hinted that Tesla vehicles could eventually be purchased with Dogecoin, though no firm timeline has been provided.
Tesla’s $1 Trillion Compensation Plan
Meanwhile, Tesla has proposed a massive new compensation plan for Musk. The package could be worth as much as $1 trillion, though it comes with strict conditions.
To unlock the payout, Tesla must achieve an eightfold increase in market value, keep Musk as CEO, and meet multiple performance milestones. If successful, it would become one of the most ambitious executive pay packages in corporate history.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
