Elon Musk is now the richest person in the world, overtaking Jeff Bezos

Elon Musk has just become the richest person in the world, with a net worth of over $ 185 billion.

Tesla’s share price hike on Thursday pushed Musk past Jeff Bezos, who was the richest person since 2017 and is currently worth around $ 184 billion. Musk’s surge in wealth over the past year marks the fastest rise to the top of the rich list in history – and marks a dramatic financial turnaround for the famous entrepreneur who, there is to Barely 18 months old, was making headlines for Tesla’s rapid cash-burning and personal influence against Tesla’s Stock.

Musk started 2020 at around $ 27 billion worth and barely made it into the top 50 richest people.

Tesla’s soaring stock price – which has grown more than nine-fold in the past year – along with his generous compensation package have added more than $ 150 billion to his net worth.

Meanwhile, Amazon’s share price has remained more subdued due to Washington’s potential for increased regulation.

Elon Musk passed Warren Buffett in July to become the seventh richest person. In November, Musk passed Bill Gates to become the second richest person. Musk has gained more wealth in the past 12 months than Bill Gates’ total net worth of $ 132 billion.

Tesla shares were recently trading at around $ 790, up more than 4% on Thursday. The market value of the company rose to $ 737.6 billion.