Elon Musk has become the world’s richest person, as his net worth crossed $185bn (£136bn).

Elon Musk, Tesla and SpaceX entrepreneur has become the richest man, as his net worth crossed $185 billion exceeding Jeff Bezos’ (Amazon Founder) $187 billion net worth.

Elon’s fortune has currently reached $188.5 billion; he was pushed to the top after Tesla’s shares boosted on Thursday.

Musk’s electric car company Tesla has surged in value this year and hit a market value of $700bn (£516bn) for the first time on Wednesday.

Tesla’s value this year reached a market value of $700 billion for the first time on Wednesday, this made the company worth more than Toyota, Volkswagen, Hyundai, Ford, and GM combined, BBC reported.

In an older tweet, Elon expressed about his wealth that “about half my money is intended to help problems on Earth, and half to help establish a self-sustaining city on Mars to ensure continuation of life (of all species) in case Earth gets hit by a meteor like the dinosaurs or WW3 happens and we destroy ourselves,”.

The entrepreneur’s fortune buoyed due to political changes in the states, where the Democrats will have control of the US Senate and Presidency for the upcoming four years.

BBC quoted Daniel Ives, an analyst with Wedbush Securities “A Blue Senate is very bullish and a potential ‘game-changer’ for Tesla and the overall electric vehicle sector, with a more green-driven agenda now certainly in the cards for the next few years.”

Expected electric vehicle tax credits would benefit Tesla, “which continues to have an iron grip on the market today”, he added.

Earlier in 2020, Musk indicated that he will use his wealth to accelerate human evolution into a spacefaring civilization.

“I want to be able to contribute as much as possible to the city on Mars,” Musk said. “That means just a lot of capital.”

Jeff Bezos gave a 4% business stake to his wife that cleared the opportunity for Elon to grab the first rank of rich figures in the fortune list, BBC reports “threat of regulation has meant Amazon’s stock has not risen as high as it might otherwise have done”.

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  • Mohammad Haroon Alim holds a BBA degree from Kardan University. He works as a sub-editor for Khaama Press.