Elon Musk has shattered financial records by becoming the first person in history to reach a net worth of half a trillion dollars. According to the Forbes Real-Time Billionaires list, the wealth of the planet’s richest individual was valued at $500 billion on Wednesday.
This achievement marks another rapid financial milestone for the Tesla and SpaceX CEO, who had only just become the first person to hit a $400 billion net worth in December. He now stands a staggering $150 billion ahead of Oracle co-founder Larry Ellison, who holds the world’s second-largest fortune. This unprecedented wealth accumulation places Musk halfway to another unthinkable goal: becoming the world’s first trillionaire.
The recent surge in his wealth is largely attributed to the performance of Tesla’s stock. Shares of the electric vehicle manufacturer rose nearly 4% in a single day, adding approximately $9.3 billion to Musk’s fortune. The stock has nearly doubled in value since he announced his departure from a presidential advisory council to focus more time on his automotive company.
However, Tesla is not the sole contributor to his historic wealth. His privately-held aerospace company, SpaceX, which he founded in 2002, has also seen a dramatic increase in valuation. The company is now valued at $400 billion, up from $350 billion in December of the previous year. Musk’s 42% stake in SpaceX is worth an estimated $168 billion, solidifying his status as an innovator in multiple high-tech industries and the wealthiest individual by an enormous margin.
