Elon Musk is officially the richest person in the world after his wealth surpassed that of Jeff Bezos.
An increase in Tesla's share price on Thursday, January 7, pushed Musk past Jeff Bezos.
The Tesla and SpaceX business magnate is now worth a whopping £136 billion, compared to Amazon entrepreneur Jeff Bezos' still highly enviable wealth of £135 billion.
Bezos had been the world's richest person since 2017.
Musk has seen his wealth increase hugely since the start of 2020 – when he was worth around $27 billion (around £20 billion).
At this point, he was only just within the top 50 wealthiest people in the world.
Tesla's share price during this period has increased exponentially adding more than $150 billion (around £110 billion) to his net worth.
About three-quarters of his net worth is comprised of Tesla shares.
Tesla’s shares were recently trading at about $790, up more than 4% in trading Thursday. The company’s market value has grown to $737.6 billion.
Elon Musk's SpaceX company also had a very productive 2020, launching 26 missions, breaking its previous calendar-year record of 21, which was set in 2018.
Its launches included SpaceX's 100th successful space mission overall, as well as the 100th of its Falcon 9 rocket.
In November, Musk leapfrogged Microsoft mogul Bill Gates and Facebook CEO Mark Zuckerberg to become the second-richest person in the world after gaining a mind-boggling more than $100 billion (£75 billion).
This was more than any other billionaire from the top 500 business people in 2020, according to Bloomberg.
Musk demonstrated the first working model of Neuralink – a technological device that promises to merge human and artificial intelligence this summer.
The South African has warned that once AI achieves true "general intelligence" that equals our own, its first act will be to create a new and more advanced intelligence that will be far superior to us.
Once that happens, he warns, we will be become endangered and irrelevant in the same way that humans drove other primates to the margins.
Musk said: "When a species of primate, homo sapiens, became much smarter than other primates, it pushed all the other ones into a very small habitat... So there are very few mountain gorillas and orangutans and chimpanzees, [and] monkeys in general."