Amazon’s Founder Jeff Bezos Reclaims Title of World’s Richest Person from Elon Musk

Jeff Bezos reclaims title of world’s richest person after 2 years

Jeff Bezos, the founder of Amazon, is once again the world’s richest person after holding the title for more than two years. According to the Bloomberg Billionaires Index, Bezos now has a net worth of $200 billion, thanks to a sustained rally in Big Tech shares driven by the artificial intelligence boom.

Bezos’ net worth has increased due to a 17% rise in Amazon’s shares this year and a nearly 90% increase from a year ago, closing at $177.58 on Monday. Bloomberg also factors in Bezos’ ownership of the space exploration company Blue Origin into its calculation.

Elon Musk, CEO of Tesla, had held the top spot for nine months before being surpassed by Bezos. At one point, Musk was $142 billion richer than Bezos. However, this year Tesla’s stock has dropped by 24%, and is 3% lower than it was a year ago with shares falling by 7% on Monday following a slump in China sales in February.

Musk and Bernard Arnault, chairman of LVMH Moet Hennessy Louis Vuitton, now rank as the second and third richest individuals on the Bloomberg Billionaires Index, with net worths of $198 billion and $197 billion respectively.

Leave a Reply