Musk becomes world's first person to hit $500 billion net worth

Elon Musk, the world’s richest man, has crossed an unprecedented milestone in personal wealth. On Wednesday, his net worth briefly surpassed $500 billion, making him the first individual in history to reach half a trillion dollars.

According to Forbes’ real-time billionaires tracker, Musk’s fortune climbed to $500.1 billion before slipping slightly to $499.1 billion later in the day.

Musk remains well ahead of other billionaires. Oracle founder Larry Ellison holds second place with $350.7 billion, while Meta chief Mark Zuckerberg ranks third with $245.8 billion.

The South African–born entrepreneur’s rise began in 1999 when he sold a publishing software company for $300 million, becoming a millionaire at age 28. He later co-founded online payments giant PayPal before moving on to establish SpaceX in 2002 and joining Tesla as chairman in 2004.

Musk’s ventures have not been without setbacks. During Donald Trump’s second presidential term, his involvement in politics briefly dented Tesla’s stock price. However, stepping away from politics allowed him to rebound strongly, with his companies generating higher revenues than ever before.