Jeff Bezos on Monday beat out Elon Musk as the wealthiest billionaire.
That’s according to Bloomberg and its Billionaires Index, which now has the Amazon founder and his estimated $200.3 billion personal fortune sitting in the top spot.
Musk’s $197.7 billion net worth, much of which stems from his Tesla holdings, was roughly $2.6 billion lower than his fellow billionaire as of late Monday afternoon, the outlet reported.
Bloomberg tied it to Tesla’s stock performance, including a 7% drop on Monday. Since the beginning of 2024, the electric vehicle maker’s stock has also declined over 27%.
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The change at the top of the Billionaires Index on Monday marked a milestone of sorts for both of the tech leaders, according to the outlet.
For Musk, the last time he fell off the top of the ranking was over nine months ago, Bloomberg reported. Bezos, meanwhile, most recently appeared at No.1 in 2021.
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Amazon has posted an over 17% increase in its stock price since the start of 2024, something that has helped lift Bezos’ personal fortune and the 938.25 million shares he still owned as of late February following $8.5 billion in sales of company stock under a prearranged trading plan.
With such a small gap currently between Musk and Bezos’ respective net worths, their positions on Bloomberg’s list could easily flip-flop depending on how Amazon and Tesla shares perform.
Musk has previously vied with LVMH CEO Bernard Arnault for Bloomberg’s No. 1 ranking.
There was a less than $1 billion difference in Musk and Arnault's personal fortunes on Monday, the outlet reported.
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