Tesla CEO Elon Musk on Wednesday became the first person ever to achieve a net worth of nearly $500 billion, propelled by a rebound in the EV company’s shares and surging valuations of the tech entrepreneur’s other startups this year.

His net worth stood at $500.1 billion as of 4:15 p.m. E.T., according to Forbes’ billionaires index.

Musk’s fortunes are tied closely to Tesla, where he held a more than 12.4% stake as of September 15. The stock has risen more than 14% so far this year and closed 3.3% higher on Wednesday, adding more than $6 billion to Musk’s net worth.

After a turbulent start to the year, Tesla shares have trended higher as investor sentiment improved on Musk bringing his focus back to his companies. Tesla board chair Robyn Denholm said last month Musk was back “front and

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