Jeff Bezos Reclaims Title Of World’s Richest Person From Elon Musk

Jeff Bezos has reclaimed his title of world’s richest person, ending Elon Musk‘s roughly six-week reign atop the list.

Musk surge to first position in January when Tesla’s 170 million stock skyrocket to 743%. On Tuesday, Elon Musk was knocked to 2nd place on the Bloomberg Billionaires Index ranking as Tesla (TSLA) shares fell 2.4%, losing about $4.5 billion.

Bezos also took a hit of about $372 million down. His net worth dropped as the broader stock market lost a bit of ground. That was enough to recapture his title that he held for about three years

The index currently says Bezos is worth $191 billion compared to Musk’s $190 billion.

Musk’s surge to first place happened in early January, when Tesla’s stock was skyrocketing. The 170 million shares of Tesla he already owns increased in value by $106 billion during 2020, as shares shot up 743% during the course of the year.

Bezos had a rather robust 2020, too. The Amazon CEO’s stake in the company increased by $75 billion in 2020, to $173.3 billion, given the huge increase in sales driven by the Covid-19 pandemic. Earlier this month, he announced that he’s stepping down from his CEO role and will transition to the role of executive chair later this year.

Meanwhile, Bill Gates remains at the world’s third-richest person with $137 billion of worth.

 

CNN

 

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