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Journalism of Courage
Amazon founder Jeff Bezos has once again reclaimed the spot of the world’s richest person after dethroning Tesla CEO Elon Musk, as per the Bloomberg Billionaires Index. Musk’s net worth is now pegged at $197.7 billion, while Jeff Bezos has a fortune worth $200.3 billion.
As per the report, Tesla CEO has lost about $31 billion while the Amazon founder gained $23 billion in the past year. Musk lost his No.1 position after Tesla’s share shakeup of a 7.2 percent on March 4. The Tesla CEO could face further challenge following the Delaware court ruling that struck down his $55 billion pay package, terming it as excessive.
The net worth gap between two billionaires, which once stood at $142 billion, has remarkably shrunk over the years. Both Amazon and Tesla are part of the “Magnificent Seven” stocks that drive the American stock market. While Amazon has seen its shares more than double since late 2022, Tesla’s stock price has plummeted by approximately 50 percent compared to its peak in 2021.
Bezos remains the largest stakeholder in his company even after selling shares worth $8.5 billion in the recent past. The Amazon CEO had, back in 2017, topped the Bloomberg list for the first time after Microsoft founder Bill Gates relinquished his title.
Earlier, in January 2021, Tesla CEO toppled Bezos in the list to become the richest person in the world with a net worth of $195 billion.
Meanwhile, Reliance Industries Ltd (RIL) and Adani Group founders Mukesh Ambani and Gautam Adani have featured at 11th and 12th spots respectively with a net worth of $115 billion and $104 billion.
