Jeff Bezos has reclaimed his position as the world’s richest man, surpassing Elon Musk, according to the Bloomberg Billionaires Index released on Tuesday. Bezos, the founder of Amazon, currently holds a net worth of $200 billion, edging out Tesla’s CEO, Elon Musk, whose net worth stands at $198 billion.
Bezos has seen a significant increase in his wealth in 2024, gaining $23 billion, while Musk experienced a loss of approximately $31 billion during the same period, as reported by the index.
The fluctuations in the billionaires’ fortunes closely align with the performance of their respective companies in the stock market. Amazon’s stock price surged by over 18 percent this year, whereas Tesla’s shares dropped by 24 percent.
Despite selling $8.5 billion worth of Amazon shares earlier in the year, Bezos retains the largest stake in the e-commerce giant, holding a 9.56 percent share. Meanwhile, Musk maintains an equity stake of about 20 percent in Tesla.
In January, a U.S. judge invalidated a Tesla pay package for Musk valued at up to $55.8 billion, citing flaws in the approval process for his compensation.
Musk, who oversees X and SpaceX in addition to Tesla, ascended to the top of the rich list in May, surpassing Bernard Arnault, the chairman and CEO of luxury goods company LVMH, who now ranks third with a net worth of $197 billion.
