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Elon Musk gestures as he arrives on the red carpet for the Axel Springer Awards ceremony in Berlin on Dec. 1. Photo: Britta Pedersen/pool/AFP via Getty Images

Tesla CEO Elon Musk saw his net worth grew to over $185 billion as of Thursday, surpassing Amazon founder Jeff Bezos as the world's richest man, CNBC reports.

The big picture: Tesla's stock price skyrocketed in 2020, making the electric car company more valuable than the world's top seven traditional automakers in a year marked by massive economic turmoil. The outspoken CEO responded Thursday to the news that he was now the world's richest man, tweeting: "How strange ... well, back to work."

Go deeper: Tesla mania vs. economic reality

Go deeper

Jan 27, 2021 - Economy & Business

Biden's car shopping list may be too picky

Photo: Jeff Greenberg/Universal Images Group via Getty Images

President Biden's plan to replace the government’s fleet of 650,000 cars and trucks with electric vehicles assembled in the U.S. by union workers is easier said than done.

Why it matters: The populist "Buy American" message sounds good, but the vehicles Biden wants are still several years away and his purchase criteria would require an expensive overhaul of automakers' manufacturing strategies, not to mention a reversal of fortune for labor organizers long stymied by Tesla and other non-union companies.

Chauvin defense closing: "Does not have to prove his innocence"

Chauvin's defense attorney Eric Nelson opened his closing argument on Monday by reminding the jury that Derek Chauvin "does not have to prove his innocence."

Why it matters: The jury's verdict in Chauvin's murder trial is seen by advocates as one of the most crucial civil rights cases in decades.

Merrick Garland: Domestic terror is "still with us"

Photo: Kevin Dietsch/UPI/Bloomberg via Getty Images

In his first major speech, Attorney General Merrick Garland warned the nation Monday to remain vigilant against the rising threat of domestic extremism.

Why it matters: Domestic terrorism poses an "elevated threat" to the nation this year, according to U.S. intelligence. Garland has already pledged to crack down on violence linked to white supremacists and right-wing militia groups.