Jeff Bezos Overtakes Elon Musk as World’s Richest Person
In a significant shift, Amazon founder and former CEO Jeff Bezos has reclaimed the title of the world’s richest person, surpassing Tesla CEO Elon Musk on the Bloomberg Billionaire Index. Elon Musk had held the top spot for the past nine months. The change in rankings occurred as Tesla shares experienced a 7.2% decline on Monday, impacting Musk’s net worth. Jeff Bezos now holds the position of the world’s richest person with a fortune of $200.3 billion, while Elon Musk is in second place with a net worth of $197.7 billion.
This marks the first time since 2021 that Jeff Bezos has topped the list of the world’s wealthiest individuals. The reversal in fortunes comes amid Tesla’s stock decline and Amazon’s continued success. Amazon shares have seen significant growth, while Tesla shares have faced a decline of nearly 50% since their peak in 2021.
Elon Musk’s net worth is expected to face additional pressure following a Delaware judge’s decision to strike down his $55 billion pay package at Tesla. The judge’s ruling favored an investor who challenged Musk’s compensation plan, impacting Musk’s sizable asset of options included in the voided plan.
While both Elon Musk and Jeff Bezos are part of the Magnificent Seven stocks in the US, Amazon’s strong performance has contributed to Bezos’s resurgence as the world’s richest person. Bezos first claimed the top spot in 2017, surpassing Microsoft founder Bill Gates, and regained it in 2021 as Amazon shares soared.
