Musk lost his position atop the Bloomberg Billionaires Index to Jeff Bezos after shares in Tesla tumbled 7.2 per cent on Monday.
For the first time in more than nine months, Elon Musk is no longer the world’s richest person.
Musk lost his position atop the Bloomberg Billionaires Index to Jeff Bezos after shares in Tesla tumbled 7.2 per cent on Monday. Musk now has a net worth of US$197.7 billion; Bezos’ fortune is US$200.3 billion.
It’s the first time that Bezos, 60, the founder of Amazon, has topped Bloomberg’s ranking of the richest people since 2021.
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The wealth gap between Musk, 52, and Bezos, which at one point was as wide as US$142 billion, has been shrinking as Amazon and Tesla shares move in opposite directions. While both are among the so-called Magnificent Seven stocks that have propelled US equity markets, Amazon shares have more than doubled since late 2022 and are within striking distance of a record high.
