We determine the evolution of the co-moving density of the most massive ($M_* geq 10^{12} M_odot$) early-type galaxy population in the redshift range of $z = 0.15$ - 0.45 in different stellar mass ranges using data from the Sloan Digital Sky Survey Data Release 7 (SDSS DR7) catalog. We find that the co-moving number density of these galaxies grew exponentially, weakly depending on the stellar mass range, as a function of cosmic time with a time-scale of $tau simeq 1.16 pm 0.16$ Gyr for at least 4 Gyr ending around $z simeq 0.15$. This is about a factor of ten of growth between $z=0.5$ - 0.15. Since $z simeq 0.15$ a constant co-moving number density can be measured. According to theoretical models the most massive early-type galaxies gain most of their stellar mass via dry merging but the major merger rate measured by others cannot account for the high growth in number density we measured thus, stellar mass gain from minor mergers and slow, smooth accretion seems to play an important role. We outline a simple analytic model that explains the observed evolution based on the exponential decline of the luminosity function and sets constraints on the time dependence of the close-pair fraction of merger candidate galaxies.
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