Elon Musk has passed Jeff Bezos and is now the richest person in the world

The increase in Tesla’s share price pushed Elon Musk past Jeff Bezos, who had been the richest person since 2017. How much is his new net worth?

According to CNBC, Elon Musk, on Thursday, passed Jeff Bezos and became the richest person in the world, with a net worth of more than $185 billion.

The founder, CEO, CTO, and chief designer of SpaceX; and early investor, CEO, and product architect of Tesla’s wealth surge over the past year marks the fastest rise to the top of the rich list in history.

Tesla’s rocketing share price has increased more than ninefold over the past year

Musk started 2020 worth about $27 billion and was barely in the top 50 richest people, but Tesla’s rocketing share price along with his generous pay package have increased his net worth by more than $150 billion.

Tesla’s shares were up more than 5% to nearly $800 in midday trading Thursday. The company’s market value has grown to more than $750 billion.

Amazon’s share price, on the other hand, has remained more subdued due to the potential for increased regulation from Washington.

The Bloomberg Billionaires Index had Musk within $3 billion of Bezos’ net worth before Thursday’s trading

Elon Musk passed Warren Buffett in July to become the seventh-richest person, and In November, Musk past Bill Gates to become the second-richest person.

 Musk has gained more wealth over the past 12 months than Bill Gates’ entire net worth of $132 billion.

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