Elon Musk is the first person in history for his wealth to reach $500 billion

The net worth of Elon Musk, the CEO of American electric carmaker Tesla, reached a record $500 billion on Tuesday, making him the first person in history to achieve such a fortune, according to the Bloomberg Billionaires Index.

CNN had previously reported that Musk’s net worth had reached $400 billion, making him the first to cross that mark. Elon Musk owns about 13% of Tesla, according to regulatory filings, and he also has about 304 million stock options from his 2018 compensation package.

SpaceX is valued at about $350 billion, and Musk owns about 42% of it through a trust, according to a December 2022 Federal Communications Commission filing and calculations by Bloomberg. Tesla became the world’s most valuable automaker in July 2020, and Musk’s wealth soared, making him the richest person in the world by January 2021.