Elon Musk has set another staggering record. On Wednesday, the Tesla chief executive became the first person in history to amass a fortune brushing up against the half-trillion mark, nearly USD 500 billion, according to Forbes.

As of 3:55 p.m. ET, Musk’s net worth stood at USD 499.5 billion on the magazine’s billionaire tracker. The milestone comes on the back of a sharp rebound in Tesla’s stock and swelling valuations of his other companies, from rocket maker SpaceX to artificial intelligence startup xAI.

Tesla remains the biggest driver of his wealth. Shares of the electric-car maker have climbed more than 14 per cent this year, including a nearly 4 per cent jump on Wednesday alone. That single-day rally added more than USD 7 billion to Musk’s personal fortune.

The board at Tesla last

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