TEXAS – Tesla CEO and SpaceX entrepreneur Elon Musk has been deemed the richest person in the world -- and as of late last year, he now lives in the Lone Star State.
According to a report from BBC News, Musk has taken the top spot as the world’s wealthiest person from Amazon founder Jeff Bezos, who has held the title since 2017.
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Musk’s net worth crossed $185 billion this year after his electric car company Tesla reached a market value of $700 billion for the first time, as of Wednesday, according to BBC News.
In other words, his car company is worth more than Toyota, Volkswagen, Hyundai, GM and Ford combined, BBC News reports.
The Tesla Owners of Silicon Valley took to Twitter Thursday to congratulate Musk on his victory, but he didn’t seem too enthusiastic. Instead, he said it’s time to “get back to work.”
Musk confirmed that he had moved from California to Texas late last year, according to a previous report from The Associated Press, claiming that California had taken innovators for granted.
There was also speculation that his move was also due to Texas having no income tax, unlike California.
It’s unclear where specifically Musk resides in Texas, but it’s expected to be near Austin, as that’s where his new Tesla factory is being built, which was announced in July of last year.
To read BBC News’ full report on Musk, click here.