Elon Musk has become the first person in history with a net worth of 500 billion US dollars. The Tesla and SpaceX CEO’s fortune has crossed the half-trillion mark.
At his current pace, Musk could become the world’s first trillionaire by 2033, when Tesla’s proposed 1 trillion dollar compensation package begins vesting.
Tesla stock rose nearly 4% Wednesday, adding about 9.3 billion to Musk’s fortune.
The stock has nearly doubled since April, when Musk announced he would step back from his role leading President Trump’s Department of Government Efficiency (DOGE) to refocus on the EV maker.
Musk has become the first person ever to achieve a net worth of more than $500 billion, as the value of the electric car company and his other businesses have risen this year.
Musk first gained significant attention as a co-founder of Zip2, a software company providing business directories and maps for newspapers, which was sold for nearly $300 million.
He then founded X.com, an online payment company that later became PayPal and was acquired by eBay for $1.5 billion in 2002.
The Forbes billionaires index reported that the tech magnate’s net worth briefly reached $500.1 billion on Wednesday afternoon New York time, before dipping slightly to just over $499 billion later in the day.