WASHINGTON: Amazon founder Jeff Bezos has taken back his spot as the world’s richest man, dethroning Elon Musk on the Bloomberg Billionaires Index.
Bezos’ net worth stands at $200 billion, according to the tracker, surpassing the Tesla chief’s $198bn.
Musk, who also heads X (formerly Twitter) and SpaceX, has seen his riches fall by more than $30b as Tesla’s share price has dropped 25 per cent in recent months.
Adding to Musk’s woes, a court in January approved the annulment of his enormous Tesla compensation agreement, worth $55.8bn and originally struck in 2018.
Bezos, who no longer runs Amazon, has meanwhile benefited from the ecommerce giant’s rising stock price.
Even after recently selling off $8.5bn in stocks he remains the company’s largest shareholder.
The French CEO of the luxury group LVMH, Bernard Arnault, remains in third place in the rankings of the world’s richest people, worth $197bn.
Published in Dawn, March 6th, 2024
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