Elon Musk has officially become the world’s first person to reach a net worth of $500 billion, putting him halfway to trillionaire status.
Elon Musk has become the first individual in history to reach a net worth of $500 billion, according to Forbes’ Real-Time Billionaires tracker as of 3:30 p.m. ET on Wednesday. The Tesla CEO now sits $150 billion ahead of the world’s second-richest person, Oracle cofounder Larry Ellison.
The milestone follows a nearly 4% rise in Tesla shares, which added an estimated $9.3 billion to Musk’s wealth. Investors have reacted positively to Musk’s decision to step back from his government advisory role to focus on Tesla, whose market value is now within 10% of its all-time high. His 12% stake in the automaker is currently valued at $191 billion.
Musk also holds major stakes in SpaceX and xAI Holdings, worth an estimated $168 billion and $60 billion respectively.
Having crossed $100 billion in 2020, $200 billion in 2021, and $400 billion in 2024, Musk is now on track to potentially become the world’s first trillionaire before 2033.