Victor EzejaBillionaire founder of Amazon, Jeff Bezos, has emerged world’s richest person with a net worth of $200 billion.
This was revealed in a report by the Bloomberg Billionaire Index.
Reports indicate that this is Bezos’ first time of taking the top spot on Bloomberg’s list of the richest people since 2021.
The title of world’s richest person was held for nine months by the founder and chairman of Space X, Elon Musk.
Musk’s fall in net worth was attributed to the Tesla Inc. shares which declined by 7.2 per cent on Monday, reducing his net worth to $197.7 billion, while Bezos’ fortune stands at $200.3 billion.
A Delaware state court judge had earlier this year struck out Musk’s 2018 pay package worth more than $50 billion which helped to make him one of the richest people in the world.
Tesla shares also tumbled about 24 per cent year-to-date.
The world’s richest person title has been switching between the trio of Elon Musk, Jeff Bezos and Bernard Arnault.
Arnault, a French businessman, investor and founder/CEO of LVMH had held the title when Musk reclaimed from him in May 2023, Arnault runs one of the world’s biggest conglomerates and includes brands such as Louis Vuitton, Dior and Celine.
The three billionaires — Musk, Arnault, and Bezos — have been in competition with each other for the top spot for months. Arnault had held the title as his wealth climbed due to a boom in luxury goods sales that helped drive up LVMH’s stock price.
The Bloomberg Billionaire Index depends on market performance of stocks of their companies to measure their wealth.
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
