Amazon founder, Jeff Bezos has displaced Elon Musk to reclaim his spot as the world’s richest man on Monday.
The Bloomberg Billionaires Index released on Tuesday, showed Bezos’ net worth currently stands at $200bn, topping the Tesla chief’s $198bn, the Bloomberg Billionaires Index showed on Tuesday.
Bezos has gained $23bn so far in 2024, while Musk has lost about $31bn, according to the index.
The Amazon founder’s net worth currently stands at $200bn, topping the Tesla chief’s $198bn, the Bloomberg Billionaires Index shown on Tuesday.
Bezos has gained $23bn so far in 2024, while Musk has lost about $31bn, according to the index.
The billionaires’ wealth gains and losses closely tracked the stock market fortunes of Amazon and Tesla, who count their founders as their biggest shareholders.
Amazon’s share price has surged by more than 18 percent this year, while Tesla’s has dropped by 24 percent.
Despite selling $8.5bn worth of Amazon shares earlier this month, Bezos remains the biggest shareholder in the e-commerce giant with a 9.56 percent stake.
Musk, who also heads X, formerly Twitter, and SpaceX, has seen his riches fall by more than $30 billion as Tesla’s share price has dropped 25 percent in recent months.
Adding to Musk’s woes, a court in January approved the annulment of his enormous Tesla compensation agreement, worth $55.8 billion and originally struck in 2018.
Bezos, who no longer runs Amazon, has meanwhile benefited from the ecommerce giant’s rising stock price.
Even after recently selling off $8.5 billion in stocks he remains the company’s largest shareholder.
The French CEO of the luxury group LVMH, Bernard Arnault, remains in third place in the rankings of the world’s richest people, worth $197 billion.
