Tesla CEO, Elon Musk, has just emerged the richest person in the world, with a net worth of more than $185 billion.
CNBC reports that 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.
Musk began 2020 worth about $27 billion, and was barely among the top 50 richest people on earth.
The surge in his wealth over the past 12 months marks the fastest rise to the top of the money list in history.
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 to his net worth, per CNBC.
In contrast, Amazon’s share price, where Bezos holds sway, has remained more subdued due to the potential for increased regulation from Washington.
Musk breezed past Warren Buffett in July to become the seventh richest person.
In November, Musk raced past Bill Gates to become the second richest person. Musk has gained more wealth over the past 12 months than Bill Gates’ entire net worth of $132 billion.
Tesla’s shares were recently trading at about $790, up more than 4% in trading on Thursday.
The company’s market value has grown to $737.6 billion.