ALBAWABA - Jeff Bezos, founder of Amazon and Blue Origin, regained his position as the wealthiest person in the globe after a lapse of over two years, overtaking Elon Musk’s throne according to the Bloomberg Billionaires Index with an estimated net worth of $200 billion.
Following an extensive growth in Big Tech stock due to the surge of artificial intelligence, with Amazon’s share price up 17 percent year to date and about 90 percent higher compared to last year, Bezos snatched back the top rank, a position he last held back in 2021.
In May 2023, Musk regained his position as the wealthiest person in the world by surpassing Bernard Arnault, CEO of LVMH, the head of one of the largest corporations in the world, which owns brands including Louis Vuitton, Dior, and Celine. For several months, Musk, Arnault, and Bezos have been vying for the top position.
The founder of Amazon has a net worth of $200 billion, while Musk came in second with $198 billion. According to the index, Bezos has made $23 billion in gains throughout the last year, while Musk has gone down almost $31 billion.
This occurs concurrently with a 7.2% decline in Tesla shares and the recent court ruling to block Musk’s $55 billion compensation package from the carmaker, bringing the X owner’s net worth down to $197.7 million, while helping Bezos, who owns 9 percent of Amazon, rise up to the spot.
