Jeff Bezos overtakes Elon Musk and once again becomes the richest person in the world

(CNN) — On Monday, Jeff Bezos regained the title of the world’s richest person, overtaking Elon Musk, according to the Bloomberg Billionaires Index.

The Amazon founder had a net worth of $200 billion, followed by Musk with $198 billion. According to the index, Musk suffered a loss of about $31 billion last year, while Bezos earned $23 billion.

This Monday, Tesla shares fell by more than 7%.

Musk regained the title of the world’s richest person in May 2023, overtaking Bernard Arnault, CEO of LVMH (LVMHF), who runs one of the world’s largest conglomerates and includes Louis Vuitton, Dior and Celine. Including brands like. The three billionaires (Musk, Arnault and Bezos) had been competing with each other for the top spot for months. Arnault held the title because his wealth grew due to a boom in sales of luxury goods that helped drive up LVMH’s share price.

Earlier this year, a Delaware state court judge threw out Musk’s 2018 pay package, worth more than $50 billion, which helped make him one of the richest people in the world. Tesla shares are also down about 24% so far this year.

Of course, the title of the world’s richest person changes every few months, depending on market performance. Musk and Arnault still have considerable wealth: Since 2020, the combined wealth of the world’s five richest people has increased by 114%, taking into account inflation, to a total of $869 billion, according to Oxfam’s annual inequality report.

—CNN’s Michelle Toh, Tammy Luhby and Chris Isidore contributed to this report.

(tagstotranslate)Elon Musk

Source link

Leave a Comment