Jeff Bezos, who is the founder of Amazon Empire, has now been pushed to the second spot in the list of the world's richest people after his rival racer towards space, Elon Musk has now won the title of the world's richest person after he amassed more wealth than Bezos with soaring shares in his electric car company, Tesla. 2020 has been a profitable year for both these business magnates and the overwhelming rise of shares had made Musk surpass Bezos to win the title of the world's richest person. 

Jeff Bezos had held the title since 2017 and according to the Bloomberg billionaires index, a 4.8% rise in Tesla's share price was enough to push Musk into the top spot and the rise was attributed to the hope that the Democrat-controlled US Senate would give a crucial push to its agenda of going green by adopting electric cars. The worth of the 49-year-old South African-born US business magnate is $186bn at 10.15 am in New York on Wednesday and with the new surge, Musk is $1.5bn richer than Bezos. 

Two months ago, Elon Musk has surpassed Microsoft founder Bill Gates to become the world's second-richest person in the world. It must be noted that Musk was the 35th richest person in the world at the start of 2020 and in one year, his wealth has skyrocketed to the scale of surpassing all the 34 billionaires before him and becoming the world's richest person. Musk has always been on the global talk for his peculiar actions that had drawn global attention from naming his child to his bid to build a city in our neighboring planet Mars. 

Musk is the co-founder of Tesla Inc, which is the leading electric car company and he is also the founder of SpaceX, one of the reputed global private space agencies which is transporting astronauts to the International Space Station in a deal with NASA. The reports say that Tesla's value was boosted by the Democratic victories in Georgia to take control of the US Senate, as it meant the US would probably introduce tax credits for electric vehicles and join the green agenda already set by many European countries. 

According to the Bloomberg Index, Elon Musk's net worth had surged by more than $150 billion over the past year which had marked the biggest wealth creation in history. Musk's SpaceX has been rivaling Blue Origin, the space company founded by Jeff Bezos, in the private space race as both the billionaires had sounded their wish to explore Mars. The reports say that Tesla's share price had surged to a whopping 743% last year, which brought the title of World's richest person to Musk. 

The world's 500 richest people added a record $1.8 trillion to their combined net worth last year, which is a 31% increase than the previous year. According to reports, five individuals hold over $100 billion fortune and these five individuals are Elon Musk ($188.5 billion), Jeff Bezos ($187 billion), Bill Gates ($132 billion), Bernard Arnault ($144 billion), and Mark Zuckerberg ($100 billion). Of these five, four belong to the United States while Arnault belongs to France. Apart from these five individuals, twenty other individuals are worth at least $50 billion.