Elon Musk becomes 1st person in World with a $500B fortune

Tesla CEO Elon Musk has become the first person in the world whose net worth has reached $500 billion.

According to Forbes billionaire list, Musk’s wealth has hit the $500 billion mark. Stock market data shows that by the close of trading, Musk’s net worth stood at $499.1 billion.

Musk’s wealth has grown due to the rise in Tesla’s stock price as well as the increased valuations of his artificial intelligence company xAI and space exploration company SpaceX. Tesla shares have risen roughly 14% over the year.

On the Forbes billionaire list, Musk is followed by Oracle founder Larry Ellison and Meta founder Mark Zuckerberg.

Musk’s fortune, which surpassed $100 billion in August 2020, first earned him the title of the world’s richest person in January 2021, with a net worth of around $190 billion.