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Elon Musk has achieved a historic net worth of over $500 billion, making him the first person to reach this milestone. This surge is attributed to the rising valuations of Tesla, SpaceX, and his AI startup xAI. Musk's wealth is largely tied to his significant stake in Tesla, whose shares have climbed this year. The tech mogul's focus on his businesses, despite facing competition and company transitions, has solidified his position as the world's richest person, significantly ahead of competitors like Larry Ellison.

Prepared by Christopher Adams and reviewed by editorial team.