Elon Musk now officially the richest person in the world

Elon Musk has just become the richest person in the world, with a net worth of more than $185billion (£136billion).

The Tesla and SpaceX boss shot past Amazon CEO Jeff Bezos on the world’s rich list after shares in his companies rose.

In the past year South African born Musk’s wealth has risen by $160billion (£118billion) as demand for Tesla’s electric cars has soared.

Bezos had been the richest person on the planet since 2017 and is currently worth around $184billion (£136billion).

Just 18 months ago Tesla’s value suffered substantial losses, marking a substantial turnaround from the 49-year-old entrepreneur.

At the start of 2020 Musk was worth around $27billion (£20billion) and was only just in the top 50 richest people.

But Tesla’s share price has increased more than nine-fold over the past year, while Amazon’s remained more steady.

Musk surpassed Warren Buffett in July, becoming the seventh richest person in the world, and then shot past Bill Gates to become the second.

He has gained more wealth over the past year than the Microsoft boss’s entire $132billion net worth, CNBC reports.

More to follow.

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