Amazon Founder Bezos Surpasses Musk to Reclaim the Title of World’s Richest Person

According to the Bloomberg Billionaires Index, Amazon founder Jeff Bezos has once again become the world’s richest person, surpassing Elon Musk to top the list for the first time since the fall of 2021.

Based on Bloomberg’s data, as of Monday (local time March 4), Bezos’s net worth stood at $200 billion. Musk’s net worth was at $198 billion, while LVMH Group CEO Bernard Arnault was at $197 billion. In recent years, Musk, Arnault, and Bezos have taken turns holding the top spot on this list. The list calculates individual wealth based on changes in the market, economy, and other reports.

The report notes that much of Bezos’s wealth comes from the e-commerce giant Amazon. In 1994, he founded Amazon in his garage in the Seattle area. He also founded the space company Blue Origin and spent $250 million to acquire The Washington Post.

The report mentions that Bezos’s reclaiming of the unofficial title of the world’s richest person coincides with his selling off of Amazon stock. In recent weeks, Bezos has sold more than $8.5 billion worth of Amazon shares, a move that may be motivated by tax reasons.

Meanwhile, Musk’s net worth has shrunk by $31 billion so far this year, with his electric vehicle company Tesla’s stock price down about 24% year-to-date. The report points out that earlier this year, a judge overturned Musk’s Tesla compensation package, which was potentially valued at up to $56 billion, delivering a blow to Musk. The judge in Delaware, USA, said the approval process for Tesla’s compensation package had “substantial flaws.”