Poor Elon Musk Is No Longer the World's Richest Guy

Jeff Bezos, who hasn't held the top spot since 2021, is back
By Evann Gastaldo,  Newser Staff
Posted Mar 5, 2024 12:30 AM CST
Updated Mar 5, 2024 5:05 AM CST
Jeff Bezos Once Again Richest Person in the World
Amazon CEO Jeff Bezos speaks at the Amazon re:MARS convention in Las Vegas on June 6, 2019.   (AP Photo/John Locher, File)

Jeff Bezos has taken back the top spot on the list of the world's wealthiest people. The Amazon founder and his $200 billion net worth on Monday surpassed Elon Musk, whose net worth was $2 billion less, reports the Wall Street Journal, citing the latest rankings from the Bloomberg Billionaires Index. In third place is the CEO of LVMH, the conglomerate including brands like Louis Vuitton and Dior, Bernard Arnault, whose net worth was $197 billion. The three men have been battling it out for the No. 1 spot for months, and they're likely to continue trading it between them as markets shift, CNN reports. Bezos was last in the top spot in the fall of 2021.

But so far this year, Bezos has made $23 billion while Musk has lost $31 billion. Bezos has lately been offloading Amazon shares, which "tax motivations" might be behind, per the Journal. He also moved from Seattle to Miami, a move that's going to save him an estimated $600 million thanks to tax differences between Florida and Washington state. Meanwhile, Tesla stock has fallen about 24% this year, and Musk's finances also took a blow when a judge struck down his Tesla pay package. (More Jeff Bezos stories.)

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