The CEO of Amazon, Jeff Bezos, has amassed a net worth of $200 billion, making him the richest person on the planet.
Elon Musk, the billionaire founder of Tesla Inc., was overthrown by Bezos on Monday when Amazon’s stock price increased by 18%.
Based on the Bloomberg Billionaires Index, Musk is worth $198 billion, and Jeff Bezos is currently worth $200 billion.
Elon lost $17.6 billion of his fortune in a single day following Monday’s 7.2 percent decline in Tesla shares.
The CEO of Amazon has witnessed a roughly 90 percent increase in shares over the past year, up 18% year to date.
Conversely, year-to-date, Tesla shares have dropped by 24%.
With $197 billion in total wealth, Bernard Arnault is currently the third richest person in the world and Mark Zuckerberg coming in fourth with a net worth of $179 billion.
Depending on how the markets perform, the title of the richest person in the world is updated every few months.
Musk took the lead in January 2021, surpassing Jeff Bezos, as a result of a 4.8 percent increase in Tesla’s share price at that time.
Additionally, in May 2023, Musk regained his title by defeating French businessman and Louis Vuitton Moët Hennessy (LVMH) CEO Bernard Arnault.
There has been rivalry amongst the three billionaires, Jeff Bezos, Elon Musk, and Bernard Arnault, for the top slot.
