Elon Musk Is The First Person In History To Be Worth $500 Billion

Elon Musk, the CEO of Tesla is the first individual in history to have a personal net worth of more than $500 billion.

The fortune of Musk briefly reached $500.1 billion in New York trading on Wednesday, before sliding down to $499 billion later. The tech magnate owns more than 12% of the vehicle and sustainable energy company.

Tesla's stock has risen by more than 20% since the beginning of the year, despite a rocky start owing to criticism of the association of Musk with US President Trump.

The other companies of Musk, such as Space X and xAI have also grown.

Musk has long been at the top of the richest people of the world list. Oracle Founder Larry Ellison briefly surpassed him last month, when Oracle shares increased by 43 percent due to high demand for its cloud computing services.

Last month, the Tesla board recommended a $1 trillion incentive package for Musk if the business achieves its target market value of more than $8.5 trillion more than eight times its current value - over the next decade.