Billionaire entrepreneur Elon Musk is approaching a historic financial milestone, coming close to becoming the world’s first trillionaire, Forbes magazine reported Wednesday.
The Tesla and SpaceX CEO briefly saw his net worth reach $500.1 billion on Wednesday, according to Forbes’ “Real-Time Billionaires” tracker, before dipping slightly to $499.1 billion.
The surge followed a rebound in Tesla shares after Musk’s highly publicised political ventures, alongside gains in his other holdings.
Musk, 54, currently tops the billionaire rankings, with Oracle CEO Larry Ellison in second place at $350.7 billion, and Meta CEO Mark Zuckerberg trailing at $245.8 billion, according to Forbes.
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A South African-born entrepreneur, Musk first made his fortune after selling an online publishing software company to US computer manufacturer Compaq for over $300 million in 1999. His subsequent venture eventually merged with PayPal, setting the stage for his later successes.
In 2002, Musk founded the space exploration company SpaceX, and two years later, he became chairman of electric vehicle manufacturer Tesla, cementing his position at the forefront of the technology and space industries.
With his net worth approaching the $500 billion mark, Musk is now nearly halfway to potentially becoming the first person in history to reach a trillion-dollar fortune.
