Amazon’s Jeff Bezos Now World’s Richest Man with $200 Billion Net Worth: A Closer Look at the Dynamic Duo of Musk and Bezos

Jeff Bezos surpasses Elon Musk to become the wealthiest person in the world

As of recent, Amazon founder Jeff Bezos has been named the world’s richest man with a net worth of $200 billion, surpassing Tesla CEO Elon Musk by $2 billion. This shift in ranking is due to an increase in Amazon’s stock price, which has boosted the value of Bezos’ holdings.

Amazon’s stock has risen by 18% this year, pushing the company’s valuation over $1.8 trillion. In contrast, Tesla’s share price has decreased by 24% in 2024 as concerns about demand for electric cars have emerged. Musk, who owns approximately 20% of Tesla’s stock, also holds significant stakes in SpaceX and X (formerly Twitter).

Despite his wealth, Musk faces potential losses in his net worth after a judge ruled his $56 billion pay deal to be unlawful. This decision could further impact his standing as the third-richest person behind French tycoon Bernard Arnault and Facebook founder Mark Zuckerberg.

The rivalry between Bezos and Musk extends beyond just their financial interests as they both run competing rocket companies – SpaceX and Blue Origin. Musk’s personal fortune peaked at over $340 billion in November 2021 when Tesla’s stock reached $1 trillion. The two billionaires have engaged in friendly competition and banter, with Musk famously tweeting a “silver medal” emoji at Bezos when he overtook him in wealth.

Bloomberg’s Billionaires Index provides a snapshot of the world’s wealthiest individuals with Bezos and Musk at the top. Bezos’ rise to the top of the list reflects his successful management of Amazon over the years as technology stocks continue to grow, their fortunes are likely to remain volatile.

In conclusion, Jeff Bezos has claimed the title of the world’s richest man with a net worth of $200 billion after a surge in Amazon’s share price that pushed up his holdings value. The rivalry between him and Elon Musk is not limited to finances but extends to running competing rocket companies – SpaceX and Blue Origin. The two billionaires have engaged in friendly competition but concerns about demand for electric cars have impacted Tesla’s share price negatively compared to Amazon’s positive growth this year.

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