Tesla and SpaceX CEO Elon Musk, the second-richest person in the world, has become richer. After Tesla’s shares rallied sharply on Tuesday, his net worth jumped $25 billion in a day.

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Now, Musk’s net worth is $174 billion, according to the Bloomberg Billionaires Index.

Amazon boss Jeff Bezos still holds the top position in the billionaires’ index as the surge also helped him gain $6 billion, taking his net worth to $180 billion. It is to be noted that Bezos is ahead of Musk in the billionaires’ index by this $6 billion only.

A nearly 20 percent jump in Tesla’s shares yesterday (March 9) marked its biggest gain in more than a year. At Tuesday’s closing, the Tesla stock was up 19.64 percent to reach $673.58 per share.

Tesla was also benefited from an upgrade by New Street Research analyst Pierre Ferragu on March 9. The analyst recommended investors buy the Tesla stock and predicted a rally in Bitcoin.

There was an overall sharp rally in the US technology shares on Tuesday. A Bloomberg report added that the top 10 largest wealth gainers — all from the tech industry — added $54 billion in total.

The rebound came after three weeks of decline, which had sent Nasdaq 100 Index down 11 percent from a peak.

Musk and Bezos have been battling for the top spot on the Bloomberg wealth index since January after the Tesla boss became the richest person in the world. At the time, Musk fortune had swelled to $210 billion.

However, Bezos regained the title soon after Tesla shares tanked 36 percent.

Last month, Tesla Inc. shares slid 8.6 percent after a tweet by Musk, costing him a whopping $15.2 billion on February 22. This dethroned him from the chair of the world’s richest man.

The sharp decline in Tesla shares happened after Musk’s comments over the previous weekend that the prices of cryptocurrencies like Bitcoin and even smaller rival Ether “do seem high."

The tweet came just two weeks after Tesla had added $1.5 billion in Bitcoin to its balance sheet. The company had also announced that it was ready to accept cryptocurrency as a means of payment for its electric cars.

Now after yesterday’s rally, Musk is again close to overtaking Bezos as they are less than $6 billion apart.

(Edited by : Jomy)