Elon Musk officially becomes the richest man on earth

Elon Musk, the outspoken entrepreneur behind Tesla and SpaceX, is now the richest person on the planet with his net worth now $188.5 billion, surpassing that of Jeff Bezos.

In the past year, Musk’s fortune has risen by $160 billion.

Elon Musk passed Warren Buffett in July to become the seventh-richest person.

In November, Musk raced past Bill Gates to become the second-richest person. He has gained more wealth over the past 12 months than Bill Gates’ entire net worth of $132 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.
While the Bloomberg Billionaires Index had Musk within $3 billion of Bezos’ net worth on Wednesday, before Thursday’s trading, the Forbes Real Time Billionaires List still had Musk about $14 billion behind Bezos after the market close Wednesday. Forbes pegged Bezos’ net worth at $186 billion and Musk at $172 billion.

Forbes, however, may not be including the value of Musk’s options, which he received as part of his pay package, to buy more than 33 million shares of Tesla.

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