Elon Musk just became the richest person in the world, with a net worth of more than 185 billion dollars.
Thursday’s increase in Tesla’s share price pushed Musk past Jeff Bezos, who had been the richest person since 2017 and is currently worth about 184 billion dollars.
Musk’s wealth surge 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 famed entrepreneur who just 18 months ago was in the headlines for Tesla’s rapid cash burn and his personal leverage against Tesla’s stock.
Musk started 2020 worth about 27 billion dollars, and was barely in the top 50 richest people.
Tesla’s rocketing share price — which has increased more than nine-fold over the past year — along with his generous pay package have added more than 150 billion dollars to his net worth.
Musk has gained more wealth over the past 12 months than Bill Gates’ entire net worth of 132 billion dollars.