Elon Musk has become the world’s first ever person to reach a net worth of more than $500 billion.

The Tesla boss and X owner saw the value of his businesses rise to £370.9 billion yesterday afternoon, the Forbes’ billionaires index reported.

This further cements his status as the world’s richest person, with most of his wealth tied closely to his 12% stake in Tesla.

The value of the car company shares has risen by more than 20% over the last year.

Musk is also in sight of becoming the world’s first trillionaire, as he will receive a huge payout if Tesla reached its list of ambitious targets.

These include selling a million AI robots, another 12 million Tesla cars and boosting the company’s value eight-fold. Investors have welcomed Musk focusing more time on his businesses, which also

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