Elon Musk has become the world's richest person as his net-worth crossed $185bn (£136bn), replacing Amazon owner Jeff Bezos. 

The Tesla and Space X entrepreneur moved into the top spot after Tesla's share price increased again on Thursday. 

The value of his car company, Tesla, has increased many times the past year, but for the first time on Wednesday it reached market value of $700 bn (£516bn) for the first time. To this into perspective, it is now worth more than car manufacturers Toyota, Volkswagen, Hyundai, GM and Ford put together. 

He took over the spot from the Amazon owner, who has held that position since 2017. 

Mr Musk replied to a Twitter user who shared the news by saying : "How strange" and "Well, back to work..."

This is his thoughts on his wealth- 

"About half my money is intended to help problems on Earth, and half to help establish a self-sustaining city on Mars to ensure continuation of life (of all species) in case Earth gets hit by a meteor like the dinosaurs or WW3 happens and we destroy ourselves," it reads.

Who is Elon Musk? 

Elon Musk was born in South Africa, he had a tough time growing up but that didn't stop him from dreaming big. 

He learnt how to code computers and he was a keen reader as a boy. He even made his own game called Blastar (in 1984).

He later moved to Canada and then US, where he set up a company with his brother Kimbal in 1995. He later sold it to create a company called X.com 

X.com later became PayPal, which millions of adults use to pay money around the world. 

He sold PayPal for $1.5bn and personally recieved $165 million from its sale. 

Elon Musk looked at the stars with that $165 million and founded another new company named Space X. The long-term goal was to help people survive on other planets.

He helped set up Tesla, an electric car company, in 2004. The enterprise had huge ups and downs in the 16 years that followed, losing billions of dollars but gaining billions as well.