Jeff Bezos has reclaimed the No. 1 position as the wealthiest person in the world. The Amazon founder overtook Tesla CEO for the top spot on Monday, according to the Bloomberg Billionaire Index. The founder of Blue Origins was the wealthiest man in fall 2021. The top positions are often rotated between Jeff Bezos, Elon Musk, and Bernard Arnault, the founder of LVMH.
Jeff Bezos overthrew Elon Musk, who had been on No. 1 for over nine months. Tesla has seen a slump in shares in the past months. The electric vehicle maker saw a 7.2 percent decline in stock value, leading to Musk’s fall to No. 2.
According to the Bloomberg Billionaire Index, Jeff Bezos, the founder of Blue Origin, has a net worth of $200 billion. The Index also reported that Elon Musk’s wealth was $198 million. The index also said that the Tesla CEO lost roughly $31 billion over the past year, while the Amazon founder gained approximately $23 billion.
Amazon has been performing well through the year in its eCommerce and cloud divisions and is slowly carving into nascent yet fast-growing generative artificial intelligence. Almost all the companies, including tech giants such as Microsoft and chip makers who have a stake in AI, have seen growth and rise in their revenue and profits, with Nvidia adding among the most as its stock price has skyrocketed as its chips are used to train generative AI models.
Jeff Bezos’ wealth comes from his stock in Amazon. As reported earlier, he recently sold many shares after moving to Florida. According to Bloomberg, his wealth is also derived from his space company, Blue Origin, and the popular outlet Washington Post.
According to Bloomberg, most of Elon Musk’s wealth comes from his 13 percent equity in Tesla. The recent decline in the electric vehicle maker’s market value, combined with a lack of successful diversification, has made Elon Musk’s wealth largely dependent on Tesla’s market value.
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