Jeff Bezos Surpasses Elon Musk as World's Richest Person: Tesla Shares Slump
For the first time in over nine months, Elon Musk has relinquished his title as the world’s richest person. Jeff Bezos, the founder of Amazon.com Inc., has reclaimed the top spot on the Bloomberg Billionaires Index, dethroning Musk after a 7.2% drop in Tesla Inc. shares on Monday. Musk’s net worth now stands at $197.7 billion, while Bezos boasts a fortune of $200.3 billion. For Jeff Bezos, being atop the wealth rankings is a familiar perch. This marks the first time since 2021 that Bezos, 60, has ascended to the peak of Bloomberg’s ranking of the wealthiest individuals. The once vast wealth gap between the 52-year-old Musk and Bezos, which reached as wide as $142 billion, has been steadily narrowing as the stock fortunes of Amazon and Tesla move in opposite directions. While both companies are part of the elite “Magnificent Seven” stocks driving the US equity markets, Amazon’s shares have more than doubled since late 2022, nearing a record high. In contrast, Tesla has seen a roughly 50...