Tesla CEO Elon Musk on Wednesday became the first person in history to reach a net worth of $500 billion, driven by a surge in Tesla shares and rising valuations of his other ventures.
Forbes’ Billionaires Index briefly recorded Musk’s wealth above $500 billion before it slipped to $499.1 billion. Tesla shares, which have gained over 14% this year, added more than $7 billion to his fortune on Wednesday alone.
Last month, Tesla’s board proposed a $1 trillion compensation package for Musk, underscoring his influence over the company as it seeks to expand into artificial intelligence and robotics.
