WASHINGTON: Tesla and SpaceX CEO Elon Musk on Wednesday became the first person to surpass $500 billion in net worth, powered by a rebound in Tesla’s share price this year and swelling valuations of his other tech ventures.
The milestone comes just under a year after Musk’s net worth crossed $400 billion and underscores his lead as the world’s richest person.
His fortune briefly hit $500bn on Wednesday before settling at $499.1bn, according to Forbes’ billionaires index.
Mr Musk’s wealth is tied closely to his about 12 per cent stake in Tesla, the world’s most valuable automaker. The electric-vehicle maker’s stock has climbed about 14pc so far this year.
Bollywood icon Shah Rukh Khan joins the billionaire club with a net worth of $1.4bn
The carmaker’s board last month proposed a $1 trillion compensation plan for Mr Musk, setting out lofty financial and operational targets for the CEO.
The stock has risen 35.7pc since the package was disclosed on Sept 5. Investors expect the pay plan, the largest ever offered to a corporate executive, to deepen Musk’s focus on Tesla.
Mr Musk last month also disclosed his purchase of about $1bn worth of Tesla shares in what was seen as a vote of confidence as the company races to transition into an AI and robotics powerhouse.
His ventures have given Musk an outsized sway over technology industries, from electric cars to satellite communications and artificial intelligence.
Mr Musk’s AI startup xAI and rocket company SpaceX have also scaled their valuations this year and are reportedly raising funds at $200bn and $400bn valuations, respectively.
Oracle founder Larry Ellison follows Musk as the second-richest person on Forbes’ list, with a net worth of about $350.7bn as of Wednesday.
Shah Rukh joins billionaire club
Also, Bollywood icon Shah Rukh Khan has entered the billionaire club with an estimated net worth of $1.4bn, according to the Hurun India Rich List 2025.
The 59-year-old actor’s ascent to ten-figure wealth places him alongside international celebrities including Rihanna and Taylor Swift, whose fortune Forbes estimates at $1.6bn.
Mr Khan’s fortune stems primarily from his stakes in production company Red Chillies Entertainment and IPL cricket franchise Knight Riders Sports, supplemented by film earnings, endorsements and international property investments.
“As the Indian economy matures and moves to its next stage of wealth creation, we are seeing new centres of value emerge beyond traditional sectors,” Hurun India Founder Anas Rahman Junaid noted, pointing to entertainment and intellectual property as “serious engines of wealth creation.”
Despite the substantial wealth of many celebrities, Forbes highlights that only a small fraction achieves a net worth reaching ten figures, with fewer than two dozen people worldwide achieving this milestone.
The Hurun list also features actress Juhi Chawla and her family with $880m, actor Hrithik Roshan ranks third with $260m, director Karan Johar comes next with nearly $200m and veteran actor Amitabh Bachchan′s family at around $183m.
Published in Dawn, October 3rd, 2025
