Elon Musk is now the richest man in the world with $230bn

Elon Musk’s net worth has surpassed $230 billion, making him the richest man on the planet after shares at SpaceX soared by 33 percent.

After only joining the Forbes top ten billionaire list in the middle of last year, the Tesla CEO has now outstripped former richest person, Amazon founder Jeff Bezos, and is currently wealthier than Bill Gates and Warren Buffett combined.

The Tesla founder saw his and his SpaceX company’s wealth swell after a share sale at SpaceX on October 8 worth $100 billion in a secondary offering.

The company had an agreement with both new and existing investors to sell up to $755 million in SpaceX stock from insiders at $560 per share, multiple people close to the deal told CNBC.

The 33 percent increase in its new share price brings the company’s valuation to $100.3 billion, after initially offering the deal to investors in February, when SpaceX’s valuation stood at $74 billion at 419.19 a share.

The first round of offerings raised nearly $1.2 billion, the outlet reports.

The company’s new increased valuation places it in the rare company of a private ‘centicorn’ or ‘hectocorn,’ which are companies with a valuation of $100 billion.

Forbes Real-Time Top Ten Billionaires List

Jeff Bezos -$197 billion
Bernard Arnault and family – $185 billion
Bill Gates – $132 billion
Mark Zuckerberg – $116 billion
Larry Ellison – $125 billion
Larry Page – $120.9 billion
Sergey Brin – $116.2 billion
Warren Buffett – $103.1 billion
Mukesh Ambani – $102.2 billion