Jeff Bezos overtakes Elon Musk as world’s richest person

Jeff Bezos, the CEO of Amazon, has seized the title of the world’s wealthiest individual, as his net worth surpasses an unprecedented $200 billion mark.

Bezos’s ascension to the top comes at the expense of Elon Musk, the visionary behind Tesla Inc., who previously held the coveted position.

The shift in fortunes occurred on Monday, March 6, 2024, propelled by an impressive 18% surge in Amazon’s stock value. As per the latest figures from the Bloomberg Billionaires Index, Bezos now commands a staggering $200 billion fortune, edging past Musk’s $198 billion net worth.

Musk’s fortune took a sharp hit, plummeting by $17.6 billion in a single day, as Tesla shares nosedived by 7.2%.

In contrast, Amazon’s shares have demonstrated remarkable resilience, soaring by 18% year-to-date and an astonishing 90% over the past year.

Meanwhile, Tesla’s shares have experienced a stark decline of 24% since the beginning of the year.

The title of the wealthiest person in the world has been a fiercely contested battleground, with shifts in leadership occurring periodically based on market dynamics.

In January 2021, Musk briefly claimed the top spot after a significant surge in Tesla’s share price, only to be overtaken by Bezos.

Musk reclaimed the title in May 2023, surpassing Bernard Arnault, the CEO of Louis Vuitton Moët Hennessy (LVMH).

The ongoing rivalry among these titans of industry — Bezos, Musk, and Arnault — continues to captivate global attention as they vie for supremacy atop the wealth rankings.

This content was created with the help of an AI model and verified by the writer.