By Tass

Copyright tass

NEW YORK, October 2. /TASS/. American entrepreneur Elon Musk has become the first person whose fortune reached $500 bln, Forbes magazine reported.

The net worth of Musk, the head of Tesla and SpaceX, the owner of the social network X and the neurotechnology company Neuralink, reached $500 bln at 3:30 p.m. US East Coast time (10:30 p.m. Moscow time, or 7:30 p.m. GMT), the publication said. By 11:15 p.m. Moscow time (8:15 p.m. GMT), Musk’s fortune had increased to $500.5 bln, Forbes added.

The magazine attributes Musk’s rise in wealth to his decision to step down from his role as head of the US government’s efficiency agency and focus on business.

Musk tops the Forbes billionaires list. He is followed by Oracle Chairman Larry Ellison ($351.6 bln), Meta Corporation (recognized as extremist in Russia) co-founder Mark Zuckerberg ($246.1 bln), Amazon founder Jeff Bezos ($233.2 bln), and Google co-founder Larry Page ($204.6 bln).

The previous record also belongs to Musk as he became the first person whose fortune exceeded $400 bln in December last year.