Jeff Bezos Overtakes Elon Musk as World’s Richest Person with $200 Billion Net Worth

Jeff Bezos, the CEO of Amazon, has reclaimed his title as the world’s richest person, surpassing Elon Musk, the founder of Tesla Inc.

Bezos’s net worth soared to a staggering $200 billion following an 18 percent surge in Amazon’s share price on Monday.

According to the Bloomberg Billionaires Index, Bezos’s net worth now stands at $200 billion, while Musk’s wealth dipped to $198 billion after he lost $17.6 billion in a single day due to a 7.2 percent decline in Tesla shares.

Amazon’s robust performance in the market, with shares surging 18 percent year-to-date and nearly 90 percent over the past year, propelled Bezos to the top spot. In contrast, Tesla shares have faced a 24 percent decline since the beginning of the year.

Bernard Arnault, the CEO of Louis Vuitton Moët Hennessy (LVMH), ranks as the world’s third-richest person with a total wealth of $197 billion.

The title of the world’s richest person has seen frequent changes in recent times, reflecting the volatile nature of financial markets. Elon Musk had previously claimed the top spot in January 2021 and May 2023, surpassing Bezos and Arnault during those periods.

The ongoing competition among Bezos, Musk, and Arnault underscores the immense wealth accumulated by tech and business magnates in recent years. Bloomberg’s index currently lists the following as the world’s richest individuals:

1. Jeff Bezos – $200 Billion
2. Elon Musk – $198 Billion
3. Bernard Arnault – $197 Billion
4. Mark Zuckerberg – $179 Billion
5. Bill Gates – $150 Billion
6. Steve Ballmer – $143 Billion
7. Warren Buffett – $133 Billion
8. Larry Ellison – $129 Billion
9. Larry Page – $122 Billion
10. Sergey Brin – $116 Billion