Elon Musk becomes first person to hit $500 billion net worth, Forbes list shows

Elon Musk has set a new record, becoming the first person ever to build a fortune of $500.1 billion. This unprecedented wealth surge is attributed to a rebound in Tesla's stock, where he holds a significant stake, and soaring valuations of his other ventures, including SpaceX and xAI, with a massive pay package also proposed for him.