Tesla CEO Elon Musk has become the first person in history to reach a net worth of around $500 billion, thanks to a surge in shares of the electric car maker and rising valuations of other startups owned by the tech entrepreneur.
According to Forbes’ Billionaires Index, Musk’s net worth reached $499.5 billion. Tesla shares have been fueling the increase, rising more than 14 percent so far this year and jumping nearly 4 percent on Wednesday alone, adding over $7 billion to Musk’s net worth.
Musk’s wealth is harder to estimate compared to other billionaires, since many of his companies are not publicly traded.
