The Tesla and SpaceX Entrepreneur, Elon Musk has become the world’s richest man, as his net worth is $185bn (£136bn) taking over from Jeff Bezos.

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The Tesla and SpaceX entrepreneur reached the top slot after Tesla’s share price increased on Thursday.

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According to BBC NEWS, he takes the top spot from Amazon founder Jeff Bezos, who had held it since 2017.

READ ALSO: Elon Musk overturns Jeff Bezos becomes the world’s richest man

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

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That makes the car company worth more than Toyota, Volkswagen, Hyundai, GM and Ford combined.

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