Bezos dethrones Musk as World’s 2nd-richest person

By , K24 Digital
On Wed, 22 May, 2024 21:28 | 2 mins read
Amazon founder and former CEO Jeff Bezos. PHOTO/AP
Amazon founder and former CEO Jeff Bezos. PHOTO/AP

Just one day after billionaire Tesla head Elon Musk briefly toppled Amazon founder Jeff Bezos as the world’s second-richest person, Bezos once again claimed the title back from Musk on Wednesday—though the rivals still trail LVMH magnate Bernard Arnault, the world's richest person.

Bezos’ net worth stands at $201.5 billion, the result of a $511 million daily jolt driven in part by a narrow climb in Amazon shares, which crawled up over 0.5% as of noon on Wednesday (Amazon is also in reported negotiations for a multi-billion-dollar NBA TV deal).

Musk’s $198.4 billion net worth, meanwhile, puts him solidly in third place, following a drop in Tesla shares on Wednesday, which fell nearly 3% Wednesday morning to roughly $181 per share.

While Tesla shares have taken a tumble since hitting a peak over $400 in late 2021, the company’s shares have since rebounded, climbing nearly 28% over the past month, thanks partly to a reported agreement between Tesla and Chinese internet giant Baidu to bring the EVs to China.

Musk, the billionaire head of Tesla, SpaceX, Neuralink and X (formerly Twitter) had stood in the first or second spot on Forbes’ real-time billionaire list from August 2021 to March 6, when Bezos knocked him down to third. Since then, Bezos and Musk have been entwined in a series of net worth flip-flops, with the billionaire duo taking the lead from one another on 13 separate occasions during March alone. Bezo reclaimed the coveted second spot once again from Musk earlier this month, amid Wall Street turbulence for Tesla, Musk’s company with the biggest market cap, at $566.23 billion. The back-and-forth comes on the heels of a Bezos wealth renaissance.


 Bezos, who also owns aerospace company Blue Origin and The Washington Post, stepped down as Amazon’s CEO in 2021, transitioning to the company’s executive chairman. He still owns roughly 10% of the company, which has seen a 21% rise in stock year-to-date.

We estimate Bernard Arnault, the world’s richest man, has a net worth of roughly $205.9 billion, putting him just over $5 billion ahead of Bezos, though the LVMH magnate’s net worth saw a sizeable drop on Wednesday, falling nearly $5 billion. Arnault, 75, is the chairman and CEO of LVMH, the fashion empire behind, Christian Dior, Sephora and Louis Vuitton

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