Key Takeaways

Elon Musk achieved a net worth of $500 billion on Wednesday.

The 54-year-old is the first person ever to reach the milestone.

Tesla stock is up approximately 13% year-to-date.

A couple of weeks ago, Oracle founder and Chief Technology Officer Larry Ellison took over the No. 1 spot as the wealthiest person in the world — but it was a brief time at the top. Tesla and SpaceX CEO Elon Musk quickly regained the lead by the end of the day.

Now, Musk has hit a major wealth milestone — the 54-year-old is the first person ever to surpass a $500 billion net worth, according to Forbes’ billionaires index.

Photo by Patrick T. Fallon / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images

Musk’s money is tied to his stake in Tesla, which is around 12%. Tesla shares are up

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