Tesla boss Elon Musk has become the first person ever to achieve a net worth of more than 500 bn dollars (370.9 bn pounds), as the value of the electric car company and his other businesses have risen this year.
The tech magnate’s net worth briefly reached 500.1 bn dollars on 1 October afternoon New York time, before dipping slightly to just over 499 bn dollars later in the day, as reported by the the Forbes’ billionaires index.
Alongside Tesla, valuations of his other ventures, including the artificial intelligence startup xAI and rocket company SpaceX, have also reportedly climbed in recent months.
The milestone further cements Musk’s status as the world’s richest person, well ahead of rivals in the global tech sector.
According to Forbes’ billionaires index, Oracle founder Larry Ellison is the world’s second richest person, with a fortune of about 350.7 bn dolllars.
