YEREVAN, SEPTEMBER 27, ARMENPRESS. Forbes today released its 41st annual Forbes 400 list, the definitive ranking of the wealthiest people in America.

Elon Musk earns the top spot for the first time ever, unseating former Amazon CEO Jeff Bezos, who had held the top spot for four consecutive years. Musk is an estimated $60.5 billion richer—now worth an estimated $251 billion—in part due to an 11 percent rise in shares of electric carmaker Tesla since last year’s list and a fresh round of funding for his private rocket business, SpaceX, Forbes reports.

Jeff Bezos is ranked 2nd with a net worth of 151 billion dollars, while Bill Gates is 3rd with a net worth of 106 billion dollars.