Jeff Bezos has regained his title as the world’s wealthiest individual, surpassing Elon Musk, according to the latest update from the Bloomberg Billionaires Index.
As of Tuesday, Bezos’ net worth stands at an astounding £145.84 billion, edging past Elon Musk’s £144.22 billion. This shift in fortune comes amid a £19.95 billion increase in Bezos’ wealth so far in 2024, juxtaposed with Musk’s £26.91 billion loss during the same period, according to the index.
The fluctuation in the billionaires’ fortunes mirrors the performance of their respective companies in the stock market. Amazon, under Bezos’ helm, has seen its shares surge by over 18 percent this year, contrasting with Tesla’s 24 percent drop.
Despite recently offloading £6.64 billion worth of Amazon shares, Bezos remains the largest shareholder in the e-commerce giant, holding a substantial 9.56 percent stake. Conversely, Musk maintains an equity stake of approximately 20 percent in Tesla.
Earlier this year, a U.S. judge invalidated a Tesla pay package for Musk valued at up to £41.61 billion, citing significant flaws in the approval process for his compensation.
Musk’s ascent to the top of the rich list in May, surpassing Bernard Arnault of LVMH, has been marked by intense competition among the world’s wealthiest individuals. Arnault currently ranks third with a net worth of £143.35 billion.
Rounding out the top five are Mark Zuckerberg (Meta, £141.13 bilion) and Bill Gates (Microsoft, £118.26 billion).
The ongoing jostle for the top spot underscores the dynamic nature of wealth accumulation, driven by stock market fluctuations and other economic indicators.
[Image created via MidJourney]