Elon Musk's $500 Billion Net Worth Takes Title Of Richest Man Ever From This African Emperor

Tesla CEO Elon Musk on Wednesday became the world’s first individual to achieve a net worth of nearly $500 billion, driven by a rally in Tesla shares and soaring valuations of his other ventures.

According to Forbes’ billionaires index, Musk’s wealth touched $500.1 billion as of 4:15 p.m. ET. The billionaire holds a 12.4% stake in Tesla as of Sept. 15, with the electric vehicle maker’s stock climbing over 14% this year. On Wednesday alone, Tesla shares closed 3.3% higher, boosting Musk’s fortune by more than $6 billion.

Historians often cite Mansa Musa, the 14th-century king of the Mali Empire, as the richest man of the pre-modern world, with modern estimates valuing his fortune at $400–500 billion. His empire dominated West Africa’s gold and salt trade, controlling nearly half of the Old World’s gold supply. However, with Musk’s latest wealth surge, he has now surpassed even Musa’s estimated fortune to claim the title of the wealthiest person in recorded history.

Oracle co-founder Larry Ellison follows Musk as the second-richest individual on Forbes’ list, with a net worth of about $350.7 billion as of Wednesday.

According to Reuters report, Tesla’s shares have recovered from a turbulent start to the year as investor confidence improved, partly due to Musk’s renewed focus on the company.

Board chair Robyn Denholm noted last month that Musk was back “front and center” after spending significant time at the White House. Shortly after, Musk disclosed a $1 billion purchase of Tesla shares as the company pivots from being just an automaker to becoming an AI and robotics powerhouse, the report further added.

Tesla has faced sagging car sales and ongoing margin pressures, leaving it one of the weaker performers in the 'Magnificent Seven' group of tech giants. In response, the Tesla board last month proposed a $1 trillion compensation plan for Musk, with ambitious targets and a larger ownership stake.

Beyond Tesla, Musk’s other ventures have also driven his wealth surge. His AI startup xAI was valued at $75 billion in July, with reports suggesting it could target $200 billion in future fundraising.

Meanwhile, SpaceX was valued at about $400 billion in a potential insider share sale reported in July. Together, these soaring valuations have helped cement Musk’s place at the top of global wealth rankings—surpassing both modern billionaires and historic icons.