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Elon Musk’s Rise to Riches: How quickly the Tesla CEO Climbed the Wealth List

Elon Musk custom Tesla-branded Nike shoes (Credit: DMCustomSneakers via Instagram)

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Tesla CEO Elon Musk is the Richest Person in the World. But how did he get there? It wasn’t easy, but Musk’s rise to riches was quick as Tesla climbed in market capitalization, which fueled the CEO’s net worth gain.

Musk officially passed Amazon CEO Jeff Bezos for the number 1 spot on January 7th, after Tesla’s stock surged to over $789.00 a share, sending the Tesla frontman’s net worth to astronomical levels. Musk’s net worth sat north of $190 billion at the time.

It wasn’t always that way, though. Musk and Tesla had to overcome several bottlenecks throughout the years. Lack of funding, production issues, and general challenges in starting a company were things that Tesla had to overcome. Luckily, it did. It is the most valuable car company on Earth, and it is the sixth-most valuable company ever.

However, three years ago, Musk wasn’t even close to being the richest person in the world. He only had a net worth of $19.9 billion, which was 147% shy of Bezos, who enjoyed a $131 billion fortune at the time, Uswitch data shows.

In 2020, Musk’s net worth climbed to $129.8 billion, and he passed long-standing names on the list like Buffett and Gates. Even Facebook CEO Mark Zuckerberg had fallen behind the Tesla CEO. However, Bezos and Amazon were flourishing, especially as in-store shopping had slowed and online deliveries of consumer goods grew, especially amid the COVID-19 pandemic.

Fast forward to 2021, and Tesla has continued to surge upward. Fueled by the news of the company reaching its 500,000 vehicle delivery and production guidance that it set for 2020, the stock continued to become more expensive, only fueling Tesla’s valuation.

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Tesla reaches 500,000 production and delivery goal for 2020

Now, Musk sits at the top of the list, 5.2% richer than Bezos, who held the #1 spot from 2017 to 2021.

Incredibly, Musk, who didn’t seem to give much thought to his new title, immediately went back to work as many challenges lie ahead. Tesla plans to open two new production facilities in 2021 in Texas and Germany, and the company also has plans to begin operations in India.

Tesla has become incredibly popular worldwide, and its vehicles are dominating sales figures everywhere. Data from the EV Sales Blog shows that the Model 3 is the main reason for Tesla’s global success as its affordable price point and superior EV tech continues to inspire people to switch to an EV. It was the most popular vehicle in Norway in December 2020, a country with a higher market share of EVs in 2020 than gas-powered cars. It was also China’s most popular electric vehicle, selling over 116,000 units within the first 11 months of the year.

Moving forward, Musk’s mission hasn’t changed since his early days at Tesla. The focus still remains on accelerating the world’s transition to sustainable energy, and thanks to the company’s lineup of sustainable cars, the mission has been an overwhelming success thus far.

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Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Lifestyle

Tesla teases “Halloween Mode” update with Optimus rising from a graveyard

Tesla’s Halloween teaser hides a covered vehicle and an Optimus hand rising from the ground.

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Tesla has started teasing a Halloween software update for its vehicles, with  a short clip on X that reads, “Halloween is coming.” The clip opens on a glowing pumpkin before pulling back to the car’s center touchscreen, where the usual parked visualization has been replaced by a graveyard scene, and the vehicle draped with a white sheet so it reads as a cartoon ghost.

The second detail is a robotic hand clawing its way out of the dirt like a zombie, which looks to be the hand of Tesla’s latest Optimus V3 humanoid robot. While Tesla still has not formally shown Optimus Gen 3 walking around in service, renders pulled from Tesla’s Android app last month gave the clearest look yet, including far more refined hands that Tesla has said carry 22 degrees of freedom. The hand has been the hardest part of the program. Musk has called it the majority of the robot’s engineering difficulty, and Tesla’s patents describe a design driven by tendons with the actuators moved into the forearm.

Tesla Optimus V3 hand and arm details revealed in new patents

Optimus also has a Halloween track record. Last October the robot handed out candy in Times Square, and a costumed “zombie” Optimus shuffled around the Tesla Diner in Los Angeles on Halloween night.

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On the software side, Tesla’s 2025 Holiday Update expanded Santa Mode with a Santa sleigh, snowmen, snow effects, and a festive lock chime, so it wouldn’t be too far fetched if we saw something similar but themed for a  Halloween Mode.

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Lifestyle

Tesla’s newest feature lets you floor it out of a Supercharger while plugged in

Tesla’s new Emergency Drive Away feature lets owners flee a Supercharger while still plugged in.

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Tesla has given drivers a way to escape while a vehicle is plugged-in at a Supercharger, in the event of an emergency. The company’s charging team announced a new feature on X called Emergency Drive Away, which lets a driver shift into Drive and pull away while the charging cable is still connected to the car.

Until now, a Tesla would not leave Park with a charge cable plugged in. Drivers had to release the latch from the touchscreen, the Tesla app, or the button on the charge handle, then wait for the port to let go. Emergency Drive Away removes that lockout, but Tesla is clear that it comes at a cost. “Use of this feature will damage your vehicle and the Supercharger,” the company wrote, adding that the function is meant for emergencies only and that deliberate misuse will lead to “additional penalties.” Tesla did not say what those penalties are.


The in-car prompt is just as direct, with the warning reading: “Driving with the cable connected will cause damage to your vehicle and the Supercharger. Short camera recordings will be shared with Tesla.” That footage gives Tesla a way to separate a real emergency from someone who simply did not want to wait for the latch.

The feature requires software update 2026.38.3, and Tesla said in replies to owners that it works at every Supercharger in the United States without new stall hardware. Model S and Model X vehicles built before 2021 are not supported, and the company says the feature applies to U.S. Superchargers “for now,” leaving Canada and other markets out at launch.

Tesla Supercharger argument leads to tragic shooting incident

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Tesla did not tie the announcement to any specific event, but it arrives two months after a gunman opened fire at an In-N-Out in Twin Falls, Idaho, on August 1, targeting three people in two Teslas at the neighboring Supercharger. One of them, a 66 year old man from Salt Lake City, was killed. Superchargers have been the scene of violence before, including a fatal shooting at a station near Denver in 2023.

In the weeks after Twin Falls, owners pushed Tesla for a native way to escape a stall, and many pointed back to EVject, the aftermarket breakaway connector Tesla sued in 2024 over claims it lacked overtemperature protection. The two companies later reached an agreement that led EVject to recall its earlier connectors in favor of a version with thermal sensors.

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Watch Tesla’s “guardian angel” FSD feature take over for collision evasion

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Tesla’s Automatic Collision Evasion feature can be seen in one of the first owner videos of it in action.

Tesla owner Spencer (@scotsrule08) posted on Monday that the feature “worked flawlessly,” saying FSD reengaged itself just as he was about to hit a curb. Ashok Elluswamy, who leads Tesla’s AI team, shared the clip and wrote, “A guardian angel always looking out for you.”

The video arrives in the middle of a staged rollout. Tesla first shipped Automatic Collision Evasion with FSD (Supervised) v14.3.9 in software update 2026.27.6 earlier this month, which Teslarati covered as it reached cars. Update 2026.27.10, which began going out on September 19, carried the feature improvements with FSD v14.3.10, according to release notes tracked by Not a Tesla App. The newer 2026.27.11 build is now reaching another wave of vehicles.


The feature only runs on HW4 vehicles, and it requires an active FSD purchase or subscription with both FSD (Supervised) and Automatic Emergency Braking enabled. HW3 owners receive FSD v14.2 Lite in the same updates, but that build does not include collision evasion.

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Tesla’s release notes describe two triggers. The first is an imminent frontal collision that braking alone may not prevent, in which case the car can activate FSD to steer, brake or accelerate around the hazard. That scenario is limited to highways below 85 mph, with no pedestrians or cyclists detected and no slippery road surface. The second covers a driver who appears inattentive, such as reaching into the back seat, or who seems to have switched off FSD by accident. Spencer’s curb clip appears to fall into that second category.

Tesla plans big safety improvements for Full Self-Driving v15

Once the system takes over, the accelerator is muted and light brake input will not cancel the maneuver. Drivers need to apply firm, deliberate steering force to take back control, and the car chimes to hand control back once the danger has passed.

Elluswamy recently noted that earlier hazard prediction, faster reaction time and better collision avoidance would arrive with FSD v15, the next major version.

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