Elon Musk, CEO of Tesla and SpaceX, has officially become the first person in history to reach a net worth of $500 billion.
This historic achievement was announced based on the Forbes Billionaires Index, which recorded his wealth at $500 billion as of 3:30 p.m. Eastern Time.
Tesla shares rose 4% on Wednesday, adding about $9.3 billion to Musk’s wealth and the company’s shares reached record levels.
The jump came after Musk announced in April that he would focus more on Tesla rather than his role in the Trump Administration’s Office of Efficiency (DOGE), with Tesla shares having nearly doubled since then.
Musk, who has been the world’s richest person since January 2021, is now $150 billion ahead of Oracle founder Larry Ellison, who is worth $351.5 billion.
