Elon Musk becomes world’s richest person

Agency: Elon Musk, founder of Tesla has overtaken Amazon’s Jeff Bezos to become the world’s richest person.

A 4.8 percent rise in Tesla’s share was enough to push Musk into the top spot, according to the Bloomberg billionaires index. Bloomberg Billionaires Index tracks the daily changes in the fortunes of the world’s 500 wealthiest people.

This 49 year-old entrepreneur’s net worth hit $186 billion at in New York on Wednesday. This makes him $1.5 billion richer than Bezos.

Bezos has held the top spot since October 2017.

According to The Guardian, the market value of Tesla which recently joined the S&P 500 index of the US’s biggest companies, exceeded $700 billion for the first time this week. Now, the company’s worth is more than Toyota, Volkswagen, Hyundai, GM and Ford combined.

News source: The Guardian