Elon Musk is now the richest person in the world, surpassing Jeff Bezos, Amazon.com Inc.’s founder who had held the top spot since 2017. Musk’s shares increased by 7.9% according to Bloomberg’s Billionaires Index, which ranks the 500 wealthiest people in the world. The price share of Musk’s electric car company, Tesla increased and the market value rose up this year, hitting more than $700 billion for the first time.

An older tweet pinned in his profile gave his insights about his personal wealth. He said that half his money is intended to help problems on Earth and the other half is to help establish a self-sustaining city on Mars. Musk is a South-African born American entrepreneur who co-founded Paypal, an electronic payment firm. He is also the founder of aerospace company, SpaceX. He also owns Tesla, an electric car company.