(NEW YORK) — Elon Musk is officially the richest man in the world, CNBC reported on Thursday.
The 49-year-old Tesla CEO, who has a net worth of over $185 billion, moved ahead of Amazon’s Jeff Bezos to grab the title. Bezos, the richest person since 2017, is currently worth about $184 billion.
Musk reportedly kicked 2020 with a net worth of about $27 billion and was barely in the top 50 richest people, according to the cable news channel. However, Tesla’s rocketing share price — which has grown more than nine times over the past year — along with his generous pay package, have added more than $150 billion to his net worth.
Tesla’s shares closed Thursday at $816.04, up nearly 8 percent. The company’s market value has grown to more than $760 billion.