What names come to mind when you think of wealth? If you're thinking along the lines of Bill Gates or Warren Buffet, you're not quite right. The correct answer to "Who is the richest person in the world?" would currently be Elon Musk.

Elon Musk: The Richest Person in the World

Born in 1971, Elon Reeve Musk has climbed the economic ladder to become the richest person in the world. Musk originally hails from Pretoria, South Africa and is most renowned for his role as the CEO, CTO, and chief designer of the groundbreaking company, SpaceX. He also serves as the CEO and product architect of the well-known automotive company, Tesla Inc. So, what catalyzed his journey to this prestigious title?

The Rise of Tesla and SpaceX

Musk’s extraordinary wealth is primarily derived from his stakes in his two flourishing companies: Tesla and SpaceX. Tesla Inc., an electric vehicle and clean energy company, continued to see its stocks rise in value significantly throughout 2021, greatly augmenting Musk’s net worth. SpaceX, Musk’s ambitious aerospace manufacturer and space transportation venture, has also significantly contributed to Musk’s burgeoning fortune.

The Musk Effect: Authority and Influence

Elon Musk's wealth, while impressive, is not the sole reason for his influence and stature. His unique ability to envision and actualize groundbreaking technology has gained him a reputation as not just a businessman, but a pioneer at the forefront of humanity’s technological progress. This is the very essence of the "Musk Effect" — his ability to shift paradigms, redefine industries and to an extent, alter humanity's course.

The Richest Person in the World: A Preview

So, how does Musk's wealth stack up numerically?

|                         | **Elon Musk's Net worth** |
| 2021                    | $254 billion              |
| 2020                    | $27 billion               |
| Net worth increase      | +840%                     |

Conclusion: A Product of Perseverance

In the end, Elon Musk's story is not just about becoming the richest person in the world. It’s also about perseverance, risk-taking, and the relentless pursuit of innovative ideas, a testament to his expertise, authority, trust, and experience in the field.
So, the answer to "Who is the richest person in the world?" is unequivocally, Elon Musk. He's a testament to the power of creative innovation, perseverance and strategic business acumen.