Elon Musk is now the richest person in the world with a net worth surpassing $185 billion dethroning Jeff Bezos from the position, according to media reports.

Musk’s new title is thanks to Thursday’s increase in Tesla’s share price. As of Wednesday, Bezos’ net worth stands at $185 billion, according to the Bloomberg Billionaires Index. Though the index isn’t updated until the close of trading, Bloomberg posted an article confirming the Tesla CEO had officially surpassed Amazon’s founder as the richest person Thursday and was valued at $188.5 billion.

Jeff Bezos first gained the richest-person title in 2017 after he surpassed Microsoft founder Bill Gates. In November, Gates and Musk were tied for second place on the list of the world’s richest.

The Tesla Owners of Silicon Valley, a group of Tesla enthusiasts, posted the news on Twitter, to which Musk replied, “How strange.”

Tesla’s stock price has increased as the demand for electric vehicles continues to grow. Its stock is more valuable on the stock market than Toyota, General Motors, Volkswagen and Honda.

Both Musk and Bezos were among the billionaires that got richer during the pandemic. Amazon’s stock price soared as the pandemic brought a demand for e-commerce, grocery deliveries and entertainment on Amazon Prime. Mackenzie Scott, Bezos’ ex-wife, received a 4% of Amazon stake as part of their divorce settlement. In September 2020, Scott became the richest woman in the world, but French billionaire Françoise Bettencourt Meyers now holds the position.