Jeff Bezos Overtakes Elon Musk to Secure Position as World’s Richest Man, Surpassing $200 Billion

Founder and executive chairman of Amazon, Jeff Bezos, has reclaimed the title of the world’s richest person, boasting a net worth of $200 billion, as reported by the Bloomberg Billionaire Index.

This shift in rankings follows over nine months of Elon Musk holding the coveted position as the richest individual on the index. The decline in Tesla Inc. shares by 7.2% on Monday contributed to a decrease in Musk’s net worth to $197.7 billion, while Bezos’ fortune surged to $200.3 billion.

This development marks the first time since 2021 that Bezos has occupied the top spot on Bloomberg’s ranking of the world’s wealthiest individuals. Initially, there was a considerable wealth gap of $142 billion between the 52-year-old Musk and the 60-year-old Bezos. However, recent stock movements for Amazon and Tesla have narrowed this margin.

Despite both companies being integral parts of the so-called Magnificent Seven stocks that drive US equity markets, Amazon’s shares have experienced a significant surge of over 100% since late 2022, nearing a record high. In contrast, Tesla has seen a roughly 50% decline from its peak in 2021.