Elon Musk has become the first person in history to amass a net worth of $500 billion, according to Forbes’ Real-Time Billionaires tracker.

The Tesla and SpaceX chief executive reached the milestone as of 3:30 p.m. Eastern, cementing his position as the world’s richest man.

Musk is now $150 billion ahead of Oracle founder Larry Ellison, his closest rival, and halfway to becoming the planet’s first trillionaire.

Tesla’s stock, which has nearly doubled in value since April, climbed by almost 4% on Wednesday, adding an estimated $9.3 billion to Musk’s fortune.

The surge comes as investors welcome Musk’s renewed focus on Tesla after stepping back from his role in President Trump’s Department of Government Efficiency.

With Tesla’s market value within 10% of its record high, Musk’s 12% stake in the electric vehicle maker is now worth $191 billion.

Musk’s net worth also reflects the soaring valuation of SpaceX, which reached $400 billion in a private tender offer this August. His 42% ownership stake in the rocket company is valued at around $168 billion.

In addition, his AI venture xAI Holdings — merged earlier this year with X, formerly Twitter — is now valued at $113 billion, giving Musk a stake worth roughly $60 billion. These ventures have added significant weight to his already dominant Tesla fortune.

The billionaire’s rise has been marked by a series of financial milestones over the past five years.

In March 2020, Musk was worth just $24.6 billion. By August that year, he surpassed the $100 billion mark, becoming the fifth person ever to do so.

He later became the world’s richest man in January 2021, hit $200 billion in September 2021, reached $300 billion by November, and $400 billion in December 2024.

Now, with his net worth standing at half a trillion, Musk has broken yet another record.

If the trend continues, Musk could become the world’s first trillionaire as early as 2033, when parts of his proposed $1 trillion Tesla pay package begin to vest.

Musk insists, however, that the award is less about money and more about maintaining his influence over Tesla’s future.

“It’s not about ‘compensation’, but about me having enough influence over Tesla to ensure safety if we build millions of robots,” Musk wrote in a September X post.

Source: Forbes.