Jeff Bezos: The billionaire who ousted Elon Musk as world’s richest man

The founder of Amazon, Jeff Bezos, surpassed Elon Musk on the Bloomberg Billionaires Index on Monday, March 4, 2024, to reclaim his position as the richest person in the world. 

Bezos’ fortune now stands at $200 billion, surpassing Musk’s $198 billion. 

Musk, who leads Tesla, X (formerly Twitter), and SpaceX, has seen his wealth decline by over $30 billion due to a 25 percent drop in Tesla’s stock price. 

In January, a court approved the cancellation of Musk’s massive Tesla compensation package, initially valued at $55.8 billion in 2018.

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Despite stepping down from his role at Amazon, Bezos has profited from the E-commerce giant’s surging stock, remaining its largest shareholder even after selling $8.5 billion worth of shares. 

Bernard Arnault, the CEO of LVMH, holds onto third place with a net worth of $197 billion.

Here’s what to know about Jeff Bezos:

Net Worth: As of the recent update, Jeff Bezos reclaimed his title as the world’s richest person with a net worth of $200 billion, surpassing Elon Musk’s $198 billion.

Amazon: Bezos, the founder of Amazon, no longer serves as its CEO but continues to benefit from the company’s rising stock prices. 

Despite selling off $8.5 billion in shares, he remains the largest stockholder.

Competition with Elon Musk: Bezos surpassed Elon Musk in the rankings due to Tesla’s share price drop, resulting in Musk’s net worth falling by over $30 billion. 

Additionally, a court annulled Musk’s enormous Tesla compensation agreement worth $55.8 billion.