People– Elon Musk is officially the wealthiest person in the world.
The Tesla and SpaceX CEO, 49, surpassed Jeff Bezos on the Bloomberg Billionaires Index Thursday, with a total net worth of $188.5 billion — $1.5 billion more than the net worth of the Amazon founder and CEO.
Bloomberg reported that Musk’s ascension into the top spot is thanks to a 4.8 percent increase in Tesla’s share price on Thursday. The outlet added that that Bezos, 56, had held on to the “world’s richest person” title for more than three years before being unseated by Musk.
Rounding out the top five are Microsoft mogul Bill Gates at No. 3 with $132 billion, LVMH CEO Bernard Arnault at No. 4 with $114 billion and Facebook founder and CEO Mark Zuckerberg at No. 5 with $99.9 billion.