According to a report by Forbes magazine, the CEO of Tesla and SpaceX recently achieved a net worth of $500.1 billion, briefly making him the first person to reach this milestone, as shares in his electric vehicle company rebounded following a challenging political period.

However, his net worth later adjusted to $499.1 billion, as noted by Forbes’ “Real- Time Billionaires” tracker.

Following Musk on the list are Oracle CEO Larry Ellison with a net worth of $350.7 billion and Meta CEO Mark Zuckerberg, whose wealth stands at $245.8 billion.

Musk’s journey to wealth began after graduating from the University of Pennsylvania and briefly attending Standford University before dropping out. He made his first millions in 1999 by selling an online publishing software company to Compaq for over $300 million.

His subsequent company merged with PayPal and after departing that venture, the South African-born entrepreneur founded SpaceX in 2002 and took on the role of chairman at Tesla in 2004.