Amazon Founder Jeff Bezos Becomes the World’s Richest Person After Dethroning Elon Musk

By Giuliano De Leon

Mar 05, 2024 04:50 AM EST

Amazon founder Jeff Bezos is now the world's richest man after he dethroned Elon Musk, the Bloomberg Billionaires Index showed on Monday. 

(Photo : Joe Raedle/Getty Images)
Jeff Bezos laughs as he speaks about his flight on Blue Origin’s New Shepard into space during a press conference on July 20, 2021 in Van Horn, Texas. Mr. Bezos and the crew that flew with him were the first human spaceflight for the company.

Amazon Founder Jeff Bezos Becomes Richest Man on Earth, Dethroning Elon Musk

Citing the index, CNN Business reported that Jeff Bezos became the wealthiest person on earth again after Elon Musk lost some $31 billion over the past year, while Jeff Bezos gained $23 billion.

Currently, Bezos' net worth is $200 billion, followed by the Tesla CEO at $198 billion. Musk lost his position on the Bloomberg Billionaires Index after Tesla shares fell more than 7% on Monday.

Musk's wealth declined further after a Delaware court recently struck down his $55 billion pay package at Tesla.

Read Also: Jeff Bezos Net Worth 2024: Amazon Founder Is Only $5 Billion Away From Dethroning Elon Musk as the World's Richest Person

First Time for Amazon Founder Jeff Bezos to Top Bloomberg's Ranking Since 2021

According to Fortune, this is the first time Jeff Bezos has topped Bloomberg's ranking of the wealthiest people in the world since 2021.

Most of his wealth reportedly comes from his 9% stake in Amazon. Even after selling 50 million shares valued at around $8.5 billion, Bezos remains Amazon's biggest shareholder.

Bezos, Elon Musk, and LVMH CEO Bernard Arnault, the three centibillionaires, have been competing for the title of the world's wealthiest person for months. Arnault is currently ranked third among the world's richest, with a net worth of $197.5 billion.

The reshuffling of Bloomberg's rich list has been influenced by the market performance or earnings reports from the companies. Bezos first overtook Microsoft co-founder Bill Gates as the world's wealthiest person in 2017.

The Amazon founder was reportedly at the top of the Bloomberg index until January 2021, when a surge in Tesla stock put Elon Musk nearly $10 billion ahead at $194.9 billion. Bezos has reportedly not regained the number one position until now.

Read More: Amazon Founder Jeff Bezos to Sell As Many As 50 Million Shares by January 2025

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