Elon Musk who is Known as the richest person in the world. Has been left behind. Now the founder of Amazon.com Inc.has topped Bloomberg’s ranking of the richest people.
Elon Musk isn’t the world’s richest person anymore since more than nine months. Jeff Bezos took over the top spot on the Bloomberg Billionaires Index because Tesla Inc. shares dropped 7.2% on Monday. Now the Musk’s net worth is $197.7 billion, close to Bernard Arnault, the chairman of LVMH Moet Hennessy Louis Vuitton, who is worth $197.5 billion. Bezos currently has a net worth of $200.3 billion.
There was once a gap between Musk and Bezos,as wide as $142 billion. But now it is getting smaller as Amazon and Tesla shares move differently. Amazon shares have doubled since late 2022 while Tesla is down about 50% from its peak in 2021. Tesla’s shares fell after data showed shipments from its Shanghai factory were the lowest in over a year. On the other hand, Amazon had its best online sales growth since early in the pandemic.
Elon Musk can loose more money
Elon Musk loosing can furher loose more money because a judge in Delaware canceled his $55 billion pay package at Tesla, where he’s the CEO. The judge agreed with an investor who didn’t like Musk’s big compensation plan, which was the largest ever. Musk’s options in the canceled plan are one of his biggest assets, along with his shares in Tesla and SpaceX. Even though the plan got canceled, the Bloomberg index still counts them when figuring out how rich he is.
Coming to Jeff Bezos’s finances. It comes from his 9% ownership in Amazon. He owns the most shares in the online store, even though he sold 50 million shares for about $8.5 billion last month. Bezos has been the richest person earlier. He first beat Bill Gates who stood as the richiest person in the world in 2017. Then he was equal to Tesla whoes shares went up in 2021,So Bezos and Musk were close to being the richest. However Bezos fell behind. Yet again he regained its position being No. 1.
