The world’s richest person lives in Texas

Tesla CEO Elon Musk is now the wealthiest person in the world, according to a report from BBC News

FILE - In this March 9, 2020 file photo, Tesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington. Wall Street is gearing up for an avalanche of trading and volatility ahead of Teslas entry into the S&P 500 index. Shares in the electric car maker, led by Musk, have skyrocketed by more than 650% this year, bringing the companys market value to around $600 billion. That makes Tesla the biggest company ever to be added to the S&P 500, and its expected to trigger a torrent of trading by institutional investors in the process. (AP Photo/Susan Walsh, File) (Susan Walsh, Copyright 2020 The Associated Press. All rights reserved.)

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.”

Screenshot of Twitter conversation with Elon Musk and Tesla Owners of Silicon Valley. (Twitter)

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.

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About the Author:

Cody King is a digital journalist for KSAT 12. She previously worked for WICS/WRSP 20 in Springfield, Illinois.