For the first time in more than nine months, Elon Musk is no longer the richest man in the world. Musk lost his top position on the Bloomberg Billionaires Index after Tesla shares fell 7.2% on Monday. Bloomberg reports this.
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Now the first place in the ranking of the richest people in the world is again occupied by Amazon founder Jeff Bezos. His fortune is now $200 billion, and Elon Musk's is $198 billion.
The last time 60-year-old Bezos topped the Bloomberg ranking of the richest people in the world was in 2021.
The wealth gap between 52-year-old Musk and Bezos, once $142 billion, is narrowing as shares of Amazon and Tesla move in opposite directions.
Amazon shares have more than doubled since the end of 2022. Tesla shares are down about 50% from their 2021 peak.
Tesla shares fell Monday after preliminary data showed deliveries from its Shanghai plant fell to the lowest in more than a year. Meanwhile, Amazon is posting its best online sales growth since the pandemic began.
However, Musk's fortune could suffer further after a Delaware judge overturned his $55 billion salary at Tesla, where he is chief executive. The decision sided with an investor who appealed Musk's salary package, which was the largest in history.
The vast majority of Bezos' wealth comes from his 9% stake in Amazon. He is the online retailer's largest shareholder, even after selling 50 million shares for about $8.5 billion last month.
In 2017, Bezos became the richest person in the world for the first time according to Bloomberg, overtaking the co-founder of Microsoft Inc. Bill Gates.
But the huge rise in Tesla shares has forced Bezos to compete with Musk for much of 2021 for first place in the ranking.
It is worth noting that 74-year-old Bernard Arnault, the head of LVMH Moet Hennessy Louis Vuitton, the world's largest luxury goods manufacturer, is also one of the three richest people in the world. His fortune is estimated at $197 billion.
He is followed by 39-year-old Facebook founder Mark Zuckerberg with a fortune of $179 billion. The aforementioned Bill Gates ($150 billion) closes in the top five.
Most richest people in the world in the Bloomberg ranking as of March 5
