Elon Musk is now the world’s richest man

Elon Musk is the richest man in the world.

Elon Musk

The Tesla and SpaceX entrepreneur wealth surpassed that of Amazon co-founder Jeff Bezos today, according to the Bloomberg Billionaires Index, which puts his net worth at US$188.5 billion.

Musk’s value is US $1.5 billion ahead of Bezos, who held the top spot since October 2017.

The South African engineer achieved the feat as Tesla, the electric carmaker, saw its shares rally 4.8 per cent today, putting him ahead of his perennial rival.

Jeff Bezos (Photo: cnbc.com)

Musk has seen his wealth balloon almost US$150 billion over the past year, as the value of his 170 million shares in Tesla jumped 743 per cent.

Bezos’s wealth also increased by US$75 billion as the e-commerce site’s saw an enormous increase in sales during the pandemic.