Elon Musk's fortune increases by $8 billion a day.

Elon Musk, 49, founder of the American technology company Tesla & SpaceX, has become the world's fourth richest man after his fortune increased by 8 billion in a single day.

According to the American economic magazine Bloomberg, shares of Elon Musk's company Tesla Insurance rose 11% on August 17, adding $8 billion to the company's founder's wealth.

After a 8 billion increase in a single day, Elon Musk's fortune reached 84.8 billion, making him the fourth richest man in the world.

Before Elon Musk, the fourth richest man in the world was Bernard Arnault, a 71-year-old Frenchman.

According to Bloomberg, Bernard Arnault's wealth was more then $84 billion on August 18, while Elon Musk's total wealth was more then $20 million.

According to Bloomberg's list, Amazon founder Jeff Bezos tops the list of the 100 richest people in the world with $188 billion.

Microsoft co-founder Bill Gates is second on the list of the richest people in the world with more then $12 billion, while Facebook founder Mark Zuckerberg is third with $99 billion.

Elon Musk came in fourth with more then $84 billion and Bernard Arnault came in fifth with $84 billion as well.

India's richest man Mukesh Ambani is the sixth richest man in the world with a fortune of $78 billion.

Indian man Mukesh Ambani's fortune has increased by $14 billion in the last two months.