Elon Musk Dethroned as World’s Richest Person

Jeff Bezos,  founder of Amazon.com Inc. once again entered Bloomberg’s richest list, which he maintained in 2021.

Elon Musk gave his role to Bezos. He became the richest man in the world for more than nine months after Tesla shares fell 7.2 percent on Monday. Musk’s net worth is currently $197.7 billion, while Bezos’s is $200.3 billion.

The wealth gap between 52-year-old Musk and Bezos, which previously reached $142 billion, narrowed next to Amazon and Tesla and moved in the opposite direction. Although the two companies are among the “big seven” stocks driving the US stock market, Amazon’s stock price is approaching an all-time high, up over 100% since the end of 2022, while Tesla’s stock price has fallen . about 10%. From the 2021 peak. 50% Amazon experienced its highest online sales since the beginning of the epidemic.

Musk’s fate may worsen after a Delaware judge ruled that $55 billion in illegal payments were made from his work at Tesla. According to the CEO. The decision benefited an investor who had previously objected to Musk’s compensation plan, which was the largest in history. Although the plans are still options, they are still seen as a significant asset for Musk and his partners Tesla and SpaceX.

The bulk of Bezo’s wealth comes from his 9% stake in Amazon, making him a shareholder of the company. He remains the company’s largest shareholder despite selling 50 million shares worth $8.5 billion last month.

Rising to the top of the wealth rankings is nothing new for Bezos, who surpassed Bill Gates to become the richest man in the world in 2017. However, in 2021, the price of Tesla’s shares rose, leading to a fierce competition between Bezos and Musk. for the top spot. By the end of the year, Bezos had plummeted and only recently became number one.

74-year-old Bernard Arnault, president of LVMH Moet Hennessy Louis Vuitton, is also one of the richest people in the world, with a net worth of $197.5 billion.

(sources)