(The Hill) -- Tech mogul Elon Musk became the first person to achieve a net worth of $500 billion Wednesday, briefly touching the half-trillion-dollar milestone before dipping back down, according to Forbes.

The Tesla and SpaceX CEO crossed the $500 billion mark Wednesday afternoon on Forbes’ Real-Time Billionaires tracker. As of Thursday morning, he sat at $499.1 billion.

Musk is nearly $150 billion richer than his closest peer, Oracle co-founder Larry Ellison. Ellison briefly overtook Musk as the world’s richest man earlier this month, as his cloud company saw its stock soar on strong quarterly results.

Musk’s wealth is closely tied to Tesla's performance, both of which fluctuated significantly over the past year. His net worth soared in late last 2024, as the electric vehicle maker’s

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