How to Patch VMware ESXi Standalone Host (5.0.0)

Download latest patch from VMware ESXi 5.0.0

for ESXi 5.0.0 latest patch (at time when writing this is) is
ESXi500-201510001 build number 3086167

upload this file to ESXi datastore

put the host into Maintenance mode

enable SSH via vSphere client via configuration > Security Profile > Properties > SSH

Connect via SSH

Type this command for update: (you can add option –dry-run to perform a dry-run only)
esxcli software vib update -d /vmfs/volumes/<your_datastore>/

when update is finished type reboot or reboot via vSphere client

after reboot you can check build number
esxcli system version get