Jeff-Bezos
Business

Jeff Bezos has reclaimed his title as the world’s wealthiest individual, surpassing Elon Musk

  •  
  •  
  •  
  •  
  •  
  •  

With a net worth of $191.2 billion, or $955 million more than Musk, Jeff Bezos, who had occupied the top spot for more than three years until last month, regained it.

Elon Musk’s reign as the richest person on the planet was brief.
Tesla Inc. stock fell 2.4 percent on Tuesday, wiping $4.6 billion from Elon Musk’s fortune and taking him out of first place on the Bloomberg Billionaires Index.

With a net worth of $191.2 billion, or $955 million more than Musk, Jeff Bezos, who had occupied the top spot for more than three years until last month, regained it.

Musk’s drop brings to an end — for the time being — an almost six-week reign as the world’s wealthiest individual, which saw him at the core of some of the year’s most significant market events. With uplifting tweets, he fueled the Reddit-fueled GameStop Corp. rally and sent shares of Etsy Inc., Shopify Inc., CD Projekt SA, and Signal Advance Inc. soaring.

Musk has recently roiled the price of Bitcoin and even Dogecoin, a lesser-known cryptocurrency that he spiked earlier this month with a tweeted meme. Meanwhile, Bitcoin soared past $50,000 just days after Tesla announced plans to keep $1.5 billion in the cryptocurrency on its books. Despite Musk’s seemingly relentless social media activity, Tesla shares have fallen nearly 10% since their January 26 high.

Bezos has had an eventful few months as well. While he prepares to relinquish a title of his own, he reclaims the title of world’s richest individual. Bezos will step down as CEO of Amazon.com Inc. in the third quarter to concentrate on other projects, the company revealed this month. Bezos, who owns the Washington Post and the space exploration business Blue Origin, has increased his philanthropic giving in recent years. In the last year, Amazon’s stock has increased by 53%.

Musk could overtake Bezos again in the not-too-distant future.

Musk’s SpaceX, a competitor to Bezos’ Blue Roots, is in talks to collect funds that would greatly boost its valuation. According to CNBC, which cited people familiar with the matter, SpaceX closed an $850 million funding round last week at a $74 billion valuation, which is around 60% higher than its previous round.


  •  
  •  
  •  
  •  
  •  
  •