New Delhi : Tesla and SpaceX CEO Elon Musk has become the world’s first person ever to reach a net worth of $500 billion, followed by Oracle’s Larry Ellison at a distant second. According to Forbes' billionaires index, Musk’s net worth stood at $500.1 billion as of 4.15 pm ET (1:45 am Thursday India time). His feat came as Tesla shares rose over 14 per cent so far this year, closing 3.3 per cent higher on Wednesday (US time), adding more than $6 billion to Musk’s wealth.

Musk’s AI startup xAI was valued at $75 billion (as of July). xAI was targeting a $200 billion valuation after a fundraise, although Musk said the company was not raising capital at that time. Oracle Founder Ellison was the second-richest person on Forbes' list, with a net worth of about $350.7 billion. Last month, Ellis

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