By Amazon’s founder, Jeff Bezos, has once again ascended to the position of the world’s richest person, surpassing Elon Musk with a staggering fortune of $200 billion.
Bezos’ Wealth Reaches New Heights
According to data from Bloomberg, Bezos’ wealth exceeded Musk’s by $2 billion as of Monday, marking the first time since the fall of 2021 that Bezos has reclaimed the top spot.
The majority of Bezos’ wealth, approximately 84%, is tied to his ownership stake in Amazon, valued at $167 billion on Monday. Bezos has witnessed a wealth surge of $23 billion this year alone, driven by a 15% increase in Amazon’s stock value.
Diversified Portfolio and Cash Reserves
Apart from his Amazon holdings, Bezos maintains substantial investments in Blue Origin, valued at approximately $15 billion, and holds an additional $18 billion in cash reserves, as reported by Bloomberg. Last month, Bezos liquidated $8.5 billion worth of Amazon shares.
Musk’s Wealth Decline
In contrast, Elon Musk has experienced a decline in wealth, primarily due to a 28% drop in Tesla’s stock price. Musk’s total net worth stands at $198 billion as of Monday, reflecting a loss of $31 billion since the beginning of the year. On Monday alone, Musk’s wealth plummeted by $17 billion, coinciding with a 7% decline in Tesla’s stock value.
Continued Challenges for Musk
The downward trajectory of Musk’s wealth is expected to persist, with Tesla’s stock facing a further 4% decline on Tuesday amidst concerns regarding the company’s exposure to China’s economic slowdown.
Wealth Rankings Beyond Bezos and Musk
Following Bezos and Musk, Bernard Arnault, the owner of luxury goods conglomerate LVMH, holds the third position with a net worth of $197 billion. Mark Zuckerberg and Bill Gates round out the top five richest individuals globally, with net worths of $179 billion and $150 billion, respectively.
Jeff Bezos’ resurgence as the world’s richest person underscores the dynamism of wealth fluctuations in today’s volatile markets, while Elon Musk grapples with challenges impacting Tesla’s valuation and his personal wealth.