Washington, November 2: Elon Musk, founder of US companies Tesla and SpaceX, has hit the world's record high in terms of the volume of his assets, which on Monday exceeded $300 billion, making him the first person to reach this spot, according to the Forbes Billionaires ranking.

As of now, Musk's fortune is estimated at $309.7 billion. It saw a sharp increase last week due to a hike in Tesla shares, driven by its deal with car rental company Hertz for the sale of 100,000 Tesla cars.

Also Read | Shah Rukh Khan Birthday Special: How King Khan Promoted Patriotism and Inclusivity in His Movies Right From Start Without the Need To Seek Validation! (LatestLY Exclusive).

Amazon founder Jeff Bezos ranks second with over $193 billion.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)