The Tesla chief’s fortune has grown more than $165 billion over the past year. As his fortune continues to grow at an unprecedented rate, Elon Musk has now become the world’s richest person, officially overtaking Amazon AMZN +0.7% CEO Jeff Bezos.

Is Elon Musk now the richest man in the world?

Elon Musk just became the world’s richest person, nudging fellow space tycoon Jeff Bezos from the top spot. The SpaceX founder and CEO is now worth more than $185 billion, thanks in large part to the ongoing surge in the stock price of his electric-car company, Tesla, according to media reports.

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Who is richer Jeff Bezos or Elon Musk?

According to the tech-dominated Bloomberg Billionaire index, Musk’s personal net worth now stands at about $195bn, or $10bn more than Amazon CEO Jeff Bezos’s $185bn.