Forbes has reported that Elon Musk on Wednesday became the first individual in history to amass a net worth of $500 billion, marking a new financial milestone.

According to Forbes' Billionaires Index, Musk's wealth reached $500.1 billion by 4:15 p.m. Eastern Time, driven largely by gains in Tesla shares and the rising value of his other ventures.

Tesla remains central to Musk's fortune. As of September 15, he held more than 12.4% of the company's stock. Tesla shares have surged over 14% this year, including a 3.3% rise on Wednesday that alone added more than $6 billion to his net worth.

Musk's expanding portfolio also includes SpaceX and other startups whose valuations have grown significantly in 2025, further boosting his personal wealth and solidifying his dominance at the top of global rich lists.

The sharp rise underscores the influence of technology and electric vehicle markets in shaping global wealth, with Tesla continuing to set the pace for innovation and investor confidence.

While Musk's achievement highlights his unparalleled position in the global economy, it also sparks debates about wealth inequality and the concentration of resources in the hands of tech billionaires.

Analysts suggest that with Tesla's growth trajectory and Musk's expanding business empire, his fortune could climb even higher, though it remains highly exposed to fluctuations in stock markets and investor sentiment.

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