Amazon billionaire founder, Jeff Bezos reclaimed world’s riches man title with a net worth of $200 billion.
According to the Bloomberg Billionaire Index, Bezos dethroned Elon Musk, the billionaire founder of Tesla Inc., on Monday, following an 18 percent surge in Amazon’s share price.
This comes after more than nine months of Elon Musk holding the title as King of billionaires on the index, no thanks to Tesla Inc. shares which dropped a 7.2% decline on Monday, reducing Musk’s net worth to $197.7 billion, while Bezos’ fortune stands at $200.3 billion.
The Amazon boss has seen its shares surge 18 percent year-to-date and nearly 90 percent in the last year.
On the other hand, Tesla shares have fallen 24 percent year-to-date.
According to reports, this marks the first time Bezos has claimed the top spot-on Bloomberg’s ranking of the richest individuals since 2021.
Initially, a wide wealth gap of $142 billion stood between Musk wealth gap between Musk,52, and Bezos, 60. However, the recent stock trajectories of Amazon and Tesla reduced the margin.
Despite both companies being part of the so-called Magnificent Seven stocks driving US equity markets, Amazon’s shares have surged over 100% since late 2022, approaching a record high. Conversely, Tesla has seen a roughly 50% decline from its 2021 peak.
Meanwhile, Bernard Arnault is the world’s third-richest person with a total wealth of $197 billion.
The title of the world’s richest person changes every few months, depending on markets performance
