Jeff Bezos has reclaimed the title of the richest particular person on earth, surpassing Elon Musk, in line with the Bloomberg Billionaires Index on Monday.
The Amazon founder’s internet value was $200 billion, whereas Musk adopted at $198 billion. Musk has misplaced about $31 billion over the previous yr, whereas Bezos has gained $23 billion, in line with the index.
Musk had reclaimed the title of the world’s richest particular person in May 2023, edging out LVMH (LVMHF) CEO Bernard Arnault, who runs one of many world’s largest conglomerates and contains manufacturers similar to Louis Vuitton, Dior and Celine.
The three centibillionaires — Musk, Arnault and Bezos — have been in competitors with one another for the highest spot for months. Arnault had held the title as his wealth climbed as a consequence of a increase in luxurious items gross sales that helped drive up LVMH’s inventory worth.
Earlier this yr, a Delaware state court docket decide threw out Musk’s 2018 pay bundle — value greater than $50 billion — that helped to make him one of many richest folks on the planet. Tesla shares additionally tumbled about 24% yr-to-date.
Of course, the title of the richest particular person on earth swaps each few months, relying on markets efficiency.
Musk and Arnault nonetheless maintain loads of wealth — since 2020, the web value of the 5 wealthiest folks on earth has skyrocketed 114% to a complete of $869 billion, after taking inflation into consideration, in line with Oxfam’s annual inequality report.
