Jeff Bezos Reclaims Title as World’s Richest Person Amid Big Tech Rally

World's richest Jeff Bezos

Jeff Bezos reclaimed the top spot world’s richest on Tuesday after a sustained rally in Big Tech shares on the back of the artificial intelligence boom boosted his net worth to $200 billion.

According to the Bloomberg Billionaires Index, Jeff Bezos has surpassed Elon Musk as the world’s richest person.

Jeff Bezos’ net worth was $200 billion, while Musk’s was $198 billion. Musk lost about $31 billion in the past year, while Bezos gained $23 billion. On Monday, Tesla shares fell more than 7%.

Having been the world’s richest person for more than two years, Amazon founder Jeff Bezos is now back in the top spot.

According to the Bloomberg Billionaires Index, Bezos is the world’s wealthiest man, with a net worth of $200 billion.

The last time Bezos was the world’s richest person was in 2021, when Big Tech shares rallied on the back of the artificial intelligence boom.

Shares of Amazon are up 17% this year and nearly 90% from a year ago. They closed Monday at $177.58, down 0.4%.

Bezos owns about 9% of Amazon, the world’s largest online retailer. He also owns space exploration company Blue Origin, which Bloomberg also includes in its calculations.

It took Bezos, 60, just nine months to unseat Tesla CEO Elon Musk, who was $142 billion richer at one point than Bezos.

In 2017, Bezos first surpassed Microsoft cofounder Bill Gates as the world’s richest person. Musk unseated Bezos in 2021 after Tesla shares surged.

As of now, Musk and Bernard Arnault, chairman of LVMH Moet Hennessy Louis Vuitton, are the second and third richest people on the Bloomberg Billionaires Index, with net worths of $198 billion and $197 billion, respectively.

EV maker Tesla’s stock is down 24% so far this year and 3% lower than a year ago. Shares fell 7% on Monday after its China sales slumped.

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Editorial Director
I'm Shruti Mishra, Editorial Director @Newsblare Media, growing up in the bustling city of New Delhi, I was always fascinated by the power of words. This love for words and storytelling led me to pursue a career in journalism. In this position, I oversee the editorial team and plan out content strategies for our digital news platform. I am constantly seeking new ways to engage readers with thought-provoking and impactful stories.

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