Elon Musk Loses World’s Richest Person Tag to Amazon Founder Jeff Bezos

After a gap of more than nine months, Elon Musk lost the title of the world’s richest person on the Bloomberg Billionaires Index to Jeff Bezos, the founder of Amazon.com.

This change occurred as the shares of Elon Musk’s Tesla Inc. tumbled 7.2% on Monday. Musk now has a net worth of $197.7 billion, while Bezos’ fortune is $200.3 billion.

It’s the first time that 60-year-old Bezos, the founder of Amazon.com Inc., has reached the top of Bloomberg’s ranking of the richest people since 2021.

Amazon shares have more than doubled since late 2022 and are within striking distance of a record high. Tesla is down about 50% from its 2021 peak.

Musk’s wealth could take a further hit after a Delaware judge struck down his $55 billion pay package at Tesla, where he’s chief executive.

The vast majority of Bezos’s fortune comes from his 9% stake in Amazon.