Elon Musk and Jeff Bezos are now sharing the number one spot as the world's richest men, both with net worths of $194 billion.
According to the Bloomberg Billionaire Index, Tesla chief Elon Musk clinched the top spot on Monday after gaining $3.58 billion, while Amazon boss Bezos lost $182 million.
Elon Musk's net worth increased after Tesla shares rose 3 percent on Monday due to bullish sentiments from market analysts and as well as gains in growth stocks.
Tesla has done well in profit-making recently, as the company's second-quarter results showed that its operating margin improved to 11 percent, and earned a lot of renewed retail interest when it disclosed that it had not made any more sales of bitcoin.
Musk had also hinted that the electric vehicle maker might soon restart accepting bitcoin as payment for its products in a B-word conference, which ignited the digital asset's bullish run.
Tesla stands tall as the world's largest vehicle-making company by market valuation at $706 billion.