Elon Musk Is Now The Richest Person In The World

Elon Musk has experienced a great amount of success in the last year due to the continuous growth of companies like Tesla and Space X both founded by him. It’s no surprise today that Elon Musk has become the world’s richest person, as his net worth crossed $185 Billion.

The Tesla and SpaceX entrepreneur was pushed into the top slot after Tesla’s share price increased on Thursday. He bounces Amazon founder Jeff Bezos from the number one spot, who had held it since 2017.

Tesla has surged in value this year and hit a market value of $700bn (£516bn) for the first time on Wednesday. That makes the car company worth more than Toyota, Volkswagen, Hyundai, GM, and Ford combined.

Accoridng to Bloomberg, The milestone caps an extraordinary 12 months for Musk. Over the past year his net worth soared by more than $150 billion in possibly the fastest bout of wealth creation in history. Fueling his rise was an unprecedented rally in Tesla’s share price, which surged 743% last year on the back of consistent profits, inclusion in the S&P 500 Index and enthusiasm from Wall Street and retail investors alike.

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