Elon Musk becomes first person to hit $500 billion in net worth: All you need to know

Tesla CEO Elon Musk on Wednesday became the first person ever to achieve a net worth of $500 billion, thanks to a rebound in Tesla shares and soaring valuations of his other ventures this year.

According to Forbes’ billionaires index, Musk’s net worth stood at $500.1 billion as of 4:15 p.m. ET. Oracle chief Larry Ellison was next at $350.7 billion, followed by Meta CEO Mark Zuckerberg at $245.8 billion.

Tesla shares rose nearly 4% by 3:30 pm ET on Wednesday, boosting Musk’s net worth by an estimated $9.3 billion, as investors cheered his renewed…