NEW YORK – Billionaire Elon Musk, already the world’s richest person, has reportedly surpassed a net worth of $500 billion, positioning him nearly halfway to becoming the planet’s first-ever trillionaire.

The CEO of Tesla and SpaceX briefly saw his net worth hit $500.1 billion before slightly retreating, according to Forbes’ “Real-Time Billionaires” tracker. The financial milestone is largely attributed to the surge in shares of his electric vehicle company and other ventures.

On the Forbes list, Musk is followed by Oracle CEO Larry Ellison and Meta CEO Mark Zuckerberg.