Elon Musk inches closer to becoming the world’s first trillionaire

Elon Musk’s fortune has once again soared past the $500 billion mark, fueled by a sharp rise in Tesla’s stock amid renewed optimism over US–China trade relations.

Tesla shares jumped 2.2% to around $462.50, following a 4.3% surge the previous day, as easing trade tensions restored investor confidence.

The rally followed comments from US President Donald Trump, who hinted at progress in resolving trade disputes with China, a crucial market for Tesla.

Treasury Secretary Scott Bessent later confirmed that tariff threats were “effectively off the table” after constructive talks with Chinese officials, sparking a broader market upswing and record highs for both the Dow Jones and S&P 500.

The billionaire, who earlier became the first person in history to cross the $500 billion threshold, now stands on the verge of becoming the world’s first trillionaire, if shareholders approve his proposed $1 trillion compensation package.

However, advisory firms like Glass Lewis and ISS have urged investors to vote against it, warning of excessive valuation risk.

On the other hand, Tesla chair Robyn Denholm defended Musk, cautioning shareholders that “without Elon, Tesla could lose significant value.”