The fortune of Elon Musk has increased by roughly $500 billion over the past 12 months, allowing him to maintain his position as the world’s richest person by a wide margin over the second-place billionaire.
According to Forbes on March 10, Musk’s estimated net worth has reached $839 billion, making him the richest individual ever recorded. The surge comes as the combined wealth of billionaires worldwide climbed to a record $20.1 trillion over the past year.
Musk topped the Forbes World’s Billionaires list for the second consecutive year, largely driven by the soaring valuations of Tesla and SpaceX. SpaceX is currently aiming for a potential initial public offering (IPO) in 2026.
He has also become the first person in history to surpass $800 billion in net worth, and is widely seen as being on track to become the world’s first trillionaire.
The massive increase in Musk’s wealth reflects a turbulent year in 2025 for Tesla. The electric vehicle maker’s stock plunged in the spring amid a wave of consumer boycotts after Musk became involved in politics.
However, Tesla shares rebounded in the second half of 2025 after Musk stepped down from a position within the administration of U.S. President Donald Trump, and the stock has since remained at elevated levels.
Supporters of Tesla believe the company may be entering a new phase of rapid growth, fueled by Musk’s push into advanced technologies such as autonomous driving and artificial intelligence.
In a shareholder vote in November, Tesla investors approved a compensation package worth up to $1 trillion if the company achieves certain production and valuation targets. The move could also increase Musk’s ownership stake in Tesla to about 25%.
Musk has also said that less than 0.1% of his wealth is held in cash.
According to the Forbes ranking, Musk’s fortune is now roughly three times larger than that of the individuals immediately behind him. This year’s billionaire list reached a record 3,428 people, with the top positions largely dominated by technology tycoons.
The co-founders of Google—Larry Page with $257 billion and Sergey Brin with $237 billion—ranked second and third, respectively.
Jeff Bezos, founder of Amazon, placed fourth with $224 billion, followed by Mark Zuckerberg, CEO of Meta Platforms, with $222 billion.
Meanwhile, U.S. President Donald Trump moved up from 700th to 645th place compared with last year. Forbes estimates his net worth at $6.5 billion, an increase of $1.4 billion.
