Tesla's Chief Executive Elon Musk is now the richest person on the planet

The surge in Tesla Inc's stock market value beyond $1 trillion on Monday is a double bonanza for Chief Executive Elon Musk, the electric car maker's largest shareholder.

The stock rallied 12.7% on news that Tesla landed its biggest-ever order from rental car company Hertz. Tesla’s stock soared on Monday after Hertz announced plans to buy 100,000 electric vehicles (mainly Model 3 sedans) for its rental car fleet, pushing up Musk’s fortune by $25.6 billion since Friday’s market close. 

His net worth, as of the market close on Monday, climbed to a whopping $255.2 billion, Forbes estimates—making him the richest he’s ever been, and likely the richest person to ever walk the planet. He’s wealthier than any billionaire Forbes has ever tracked: Musk is worth more than Google cofounder Larry Page (No. 6 richest) and Facebook CEO Mark Zuckerberg (No. 7 richest) combined. 

Musk receives no salary at Tesla: his pay package provides 12 options tranches that vest when Tesla's market capitalization and financial growth hit a series of rising milestones.

The options let Musk buy Tesla shares at $70 each, a discount of more than 90% from their current price.