Elon Musk has set a historic milestone by becoming the first individual to surpass a net worth of $600 billion. According to Forbes, the entrepreneur’s wealth has reached an astonishing $677 billion, fueled largely by a recent revaluation of SpaceX during a funding round.

In early December, Musk’s company announced a stock buyback plan, raising its valuation from $400 billion in August to an impressive $800 billion. This surge led to a rise of $168 billion in the entrepreneur’s personal fortune. According to Forbes, Musk is the first person to reach a net worth of $600 billion, noting that no one else in history has ever held a fortune of $500 billion.

The previous record set by Musk was achieved in October when he became the first person to reach a net worth of $500 billion. His rapid wealth increase underscores the skyrocketing value of shares in his companies, Tesla and SpaceX, both of which are currently experiencing significant growth.