Jeff Bezos, the founder of Amazon, has reclaimed the title of the richest person on Earth. Bezos’ net worth was calculated to be around $200 billion, while Elon Musk followed at $198 billion. Musk has lost about $31 billion over the past year, while Bezos’ net worth has gained $23 billion, according to the index.
This comes after Musk had earlier reclaimed the title of the world’s richest person in May 2023, edging out Bernard Arnault, the CEO of LVMH. However, the three centibillionaires – Musk, Arnault, and Bezos – have been in competition with each other for the top spot for months. Arnault had held the title as his wealth climbed due to a boom in luxury goods sales that helped drive up LVMH’s stock price.
It is important to note that the title of the richest person on Earth swaps every few months, depending on market performance. Nevertheless, Musk and Arnault still hold a significant amount of wealth. Since 2020, the net worth of the five wealthiest people on earth has skyrocketed 114% to a total of $869 billion, after taking inflation into account.
Tesla shares have tumbled about 24% year-to-date, while on Monday, they had tumbled more than 7%. Earlier this year, a Delaware state court judge threw out Musk’s 2018 pay package, worth more than $50 billion, which had helped to make him one of the richest people in the world.
