Bezos Reclaims Richest Person Title from Musk

Tesla Inc.’s stock saw a decline on Monday, causing Elon Musk to lose his status as the world’s richest person.

Bezos Overtakes Musk on Billionaires Index

Amazon founder Jeff Bezos surpassed the Tesla CEO on Bloomberg’s Billionaires Index on Monday, marking the first time since late 2021 that Musk was not in the top spot. This shift comes after LVMH CEO Bernard Arnault briefly took the lead nine months ago.

As of Monday, Bezos’s total net worth was $200 billion, edging out Musk’s $198 billion and Arnault’s $197 billion. Year to date, Musk’s fortune has decreased by $31 billion while Bezos’s has increased by $23.4 billion.

Bezos’s Rise Despite Amazon Share Selling

Bezos managed to reclaim the number one position despite selling approximately 50 million Amazon shares valued at around $8 billion last month. Holding a 9% stake in the tech giant, Amazon has seen a 17% increase in shares year to date.

Tesla experienced over a 7% drop in shares on Monday following new price cuts and discounts introduced by the EV manufacturer in the U.S. and China. Musk’s wealth is heavily tied to Tesla stock, which has fallen by about 24% year to date. In January, a Delaware judge nullified Musk’s $56 billion compensation package.

Bernard Arnault from France is also a contender, with his wealth growing by $18 billion this year. LVMH stock has seen a 15% increase year to date in Paris trading.