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Jeff Bezos has dethroned Elon Musk and reclaimed his crown as the world’s richest man.
The Amazon founder’s net worth is currently $200 billion, surpassing Tesla’s $198 billion, according to the Bloomberg Billionaires Index on Tuesday.
According to the index, Bezos has made $23 billion in 2024, while Musk has lost almost $31 billion.
The billionaires’ financial gains and losses were tightly tied to the stock market fortunes of Amazon and Tesla, which list their founders as major shareholders.
Amazon’s stock price has risen by more than 18% this year, while Tesla’s has fallen by 24%.
Despite selling $8.5 billion in Amazon shares earlier this month, Bezos remains the e-commerce giant’s largest shareholder, with a 9.56 percent stake.
Musk owns around 20% of Tesla’s shares.
In January, a judge in the United States overturned a Tesla pay plan for Musk worth up to $55.8 billion, saying that the process for approving his salary was seriously faulty.
Musk, who also leads X and SpaceX, ascended to the top of the rich list in May, unseating Bernard Arnault, the chairman and CEO of luxury goods business LVMH, who is currently third with $197 billion.
In recent years, Bezos, Musk, and Arnault competed for the top spot in the ranking, which is based on stock market swings and other economic statistics.
