Jeff Bezos overtakes Elon Musk as world’s richest person

March 6, 2024March 6, 2024

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Picture: Jeff Bezos overtakes Elon Musk as world’s richest person

World’s richest person Jeff Bezos, the CEO of Amazon, has overtaken Elon Musk to become the world’s richest person, with a net worth surpassing an unprecedented $200 billion. The shift in fortunes occurred on Monday, March 6, 2024, driven by an impressive 18% surge in Amazon’s stock value.

Bezos’s ascension to the top comes at the expense of Elon Musk, the visionary leader behind Tesla Inc., who previously held the coveted position. According to the latest figures from the Bloomberg Billionaires Index, Bezos now commands a staggering $200 billion fortune, edging past Musk’s net worth of $198 billion.

Musk’s fortune took a sharp hit, plummeting by $17.6 billion in a single day, as Tesla shares nosedived by 7.2%. In contrast, Amazon’s shares have demonstrated remarkable resilience, soaring by 18% year-to-date and an astonishing 90% over the past year.

The title of the world’s wealthiest person has been fiercely contested, with shifts in leadership based on market dynamics, as Musk briefly claimed the top spot in January 2021, only to be overtaken by Bezos. Musk reclaimed the title in May 2023, surpassing Bernard Arnault, the CEO of Louis Vuitton Moët Hennessy (LVMH).

The ongoing rivalry among these industry titans – Bezos, Musk, and Arnault – continues to captivate global attention as they vie for supremacy atop the wealth rankings. Their fortunes rise and fall with the fluctuations of the market, keeping the world intrigued and fascinated by their competition.

With Bezos leading, attention turns to how industry titans will respond and if Musk or Arnault can make a comeback for the top spot. The battle for the world’s richest person remains a subject of fascination, as these visionary leaders continue to shape the business world and influence global markets.