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Elon Musk is not only the world’s richest man again, but he has nearly recovered all of the wealth he lost earlier this year as Tesla’s stock started climbing.
As of market close on Monday, Musk’s net worth was $429 billion, according to the Bloomberg Billionaires Index. That’s almost as high as it was on January 1, at $432 billion.
Musk’s net worth took a major tumble this year as he worked closely with President Donald Trump on government efficiency efforts via the White House DOGE office as a “special government employee.”
The decline in Musk’s wealth largely tracked the decline in Tesla’s share price. Investors in the company expressed concerns that its leader was spending too much time on politics and not enough on solving the challenges facing the electric vehicle maker, including increased competition and declining sales.
Tesla’s share price — and its billionaire CEO’s net worth — both reached their low points for the year in April, with Musk’s net worth dipping as low as $290 billion. The stock price was down 45% year-to-date at its lowest point in April.
That same month, Musk announced he would be stepping back from his work with DOGE in May. Investors welcomed the news, and Tesla’s share price began to recover, as did Musk’s wealth.
By late May, when Musk said he was actually stepping away from the White House, Tesla’s stock had already recovered a good portion of its losses, as it was down less than 5% year-to-date. Musk’s wealth had also recovered to $390 billion.
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In June, Musk had a public falling out with President Donald Trump, with the pair trading insults and accusations on their respective social media platforms. Tesla’s stock plummeted 14% the day the feud broke out.
The latest surge in Musk’s wealth came as Tesla last week proposed a $1 trillion pay package for its CEO. Tesla’s stock also surged on the news that Musk bought $1 billion worth of Tesla shares, an SEC filing made public on Monday showed.
Tesla’s stock was up nearly 18% over the past five days as of market close on Monday. It marked the first time the stock was in positive territory in 2025 since January.
Last week, Oracle cofounder Larry Ellison overtook Musk as the world’s richest person due to a surge in Oracle’s stock price, but the Tesla founder quickly pulled back ahead.
Now, Musk’s proposed compensation package could take him to an entirely new level, putting him one step closer to becoming the world’s first trillionaire.
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