Elon Musk has overtaken Bill Gates to become the second-richest person on the planet.

Musk slipped past Gates thanks to a recent surge in the Tesla share price, bringing his total worth to $127,9-billion.

Gates has a net worth of $127,7-billion, while the richest man in the world, Jeff Bezos has amassed $183-billion.

The Tesla and SpaceX entrepreneur’s wealth has surged by over $100-billion this year, bringing him from 35th on the Forbes list of the world’s richest people to second in just a few months.

In fact, the richest people in the world have had a good year overall, racking up an average of 23% growth in their wealth.