Elon Musk’s net worth is valued at $726.3 billion as trading closed Wednesday, according to Forbes’ Real-Time Billionaires List, ending a record-breaking year for the Tesla CEO, whose fortune has surpassed numerous milestones while becoming more valuable than some of the world’s largest economies and companies.

The Tesla CEO’s fortune surged this year, eclipsing numerous milestones as Musk became wealthier than some of the world’s largest economies.

Key Facts

Musk’s net worth dropped $3.3 billion on Wednesday as Tesla shares decreased 1% to $449.72, concluding an 18% rise for the stock this year in which shares traded at nearly $500 during its peak.

Forbes Valuation

Musk has been ranked the world’s richest person since May 2024, when he surpassed LVMH CEO Bernard Arnault, who held the title for roughly four months after a Delaware judge voided Musk’s Tesla pay package. Google cofounder Larry Page ranks the second-wealthiest person with a net worth estimated at $256.9 billion, followed by Oracle chair Larry Ellison ($245 billion), Amazon’s Jeff Bezos ($242.2 billion) and Page’s counterpart Sergey Brin ($237.1 billion) rounding out the top five.

Here’s What Elon Musk Is Worth More Than—from Belgium To Oracle And More

Musk’s net worth would be valued as the world’s 23rd-largest economy, ranking ahead of No. 24 Belgium ($716 billion), No. 25 Ireland ($708 billion), No. 26 Argentina ($683 billion) and No. 27 Sweden ($662 billion) and just behind Taiwan ($884 billion), according to the International Monetary Fund. His fortune is worth more than the market values of some of the world’s largest companies, including Ellison’s Oracle ($560 billion), health care giant Johnson & Johnson ($498.6 billion) and Arnault’s LVMH ($375.9 billion). Musk’s net worth is valued at just under what the global cryptocurrency market was valued at in 2018 ($773 billion) and is worth more than double ethereum’s market cap ($358 billion), the second-largest cryptocurrency behind bitcoin ($1.7 trillion), in 2025, according to CoinGecko.

Key Background

A record-breaking rally for Musk’s wealth this year followed his net worth eclipsing $300 billion in November 2024. He became the first person to be worth $400 billion the following month, only to become the first person to be worth half a trillion dollars in October. Musk reached the $600 billion valuation earlier this month, then topped $700 billion four days later. Those leaps followed Musk’s SpaceX launching a tender offer valuing the firm at $800 billion, up from $400 billion in August, boosting his net worth by roughly $168 billion. The Delaware Supreme Court then overturned a lower court ruling that voided Musk’s Tesla stock options worth roughly $139 billion, increasing his net worth to nearly $750 billion. Forbes had discounted the value of the stock options by 50% since January 2024. Musk is on the path to becoming the first person to be worth $1 trillion: Tesla shareholders approved a compensation package for Musk in November that could be worth close to $1 trillion, should the company achieve several goals over the next decade. (Forbes)