Tesla Inc.'s Chief Elon Musk has surpassed Amazon.com Inc’s Jeff Bezos to become the world’s richest man.
According to the reports, including Thursday's gains in Tesla shares, Musk had a net worth of more than $188.5 billion, $1.5 billion more than Bezos.
Musk’s personal wealth has been boosted by last year’s more than eight-fold surge in the shares of Tesla, which became the world’s most valuable carmaker.
Reports state that he has a 20% stake in the carmaker and about $42 billion of unrealized paper gains on vested stock options.
Tesla shares were up as much as 7.4% on Thursday at a record high of $811.61.
Musk, who co-founded and sold Internet payments company PayPal Holdings Inc, now leads some of the most futuristic companies in the world.
Besides Tesla, he heads rocket company SpaceX and Neuralink, a startup that is developing ultra-high bandwidth brain-machine interfaces to connect the human brain to computers.