The SpaceX CEO, 49, has knocked Bill Gates off second spot after his wealth rocketed in recent days.
Telsa CEO Elon has accumulated an impressive $127.9bn (£95.8bn) to his name which saw him take the title of second richest man in the world.
He’s behind Amazon boss Jeff Bezos who is the richest man in the world with $182bn (£136bn).
Only days ago, the space engineer was $8billion (£6bn) away from outgrowing the Microsoft co-founder’s wealth.
But the percentage rise in Tesla’s shares changed everything.
It gave Elon the $7.2bn bumper he needed to become the second richest man, according to the Bloomberg Billionaires Index.
Despite the coronavirus pandemic, it’s been an incredibly successful year for the billionaire.
In his personal life, Elon has become a dad again after his girlfriend Grimes gave birth to their first baby together.
They shocked the world with their unusual name for their son X Æ A-12.