Elon Musk's Net Worth Just Hit A New Record—Here's How He Made $500 Billion

Core Insights - Elon Musk became the first individual to surpass a net worth of $500 billion in October 2025, primarily driven by rising Tesla shares [1][6] - Tesla is proposing a new pay package for Musk that could potentially make him a trillionaire if certain milestones are met over the next decade [2][6] - Musk's wealth is significantly influenced by his stakes in Tesla and SpaceX, with Tesla's share price increasing over 60% in 2024 [3][6] Company Overview - Tesla is one of the largest car manufacturers globally, specializing in fully electric vehicles and energy products such as solar panels and battery systems [5] - The company was founded in 2003 and went public in 2010, with Musk becoming CEO in 2008 after investing in the company [5][7] - As of August 2025, Musk holds 19.7% of Tesla's equity, making him the largest shareholder [6]