15. 03. 2024 | Natalie Bezděková

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Elon Musk is no longer the world’s richest person after shares in his company Tesla plunged 7.2 percent on Monday, knocking him off the top of the Bloomberg Billionaires Index. Jeff Bezos has become the world’s new richest person. Musk now has a net worth of $197.7 billion, while Bezos’ fortune stands at $200.3 billion.

This is the first time since 2021 that the 60-year-old Amazon founder has topped Bloomberg’s list of the richest people. The wealth gap between the 52-year-old Musk and Bezos is narrowing due to the opposite direction Amazon and Tesla’s stocks are moving. While both companies are part of the “big seven” that drive the U.S. stock markets, Amazon shares have more than doubled since the end of 2022, while Tesla shares have fallen by half from their 2021 peak.

Tesla’s stock plunge on Monday was caused by a drop in vehicle deliveries from its Shanghai factory to the lowest level in more than a year. On the other hand, Amazon posted its best online sales growth since the pandemic began.

Most of Jeff Bezos’ wealth comes from his 9 percent stake in Amazon. He is still the company’s largest shareholder, even after selling 50 million shares worth about $8.5 billion last month.

Jeff Bezos has already had the experience of being at the top of the richest people list, first getting there in 2017 when he overtook Microsoft co-founder Bill Gates. However, in 2021 he dropped significantly, and now he’s back on top again.

Among the world’s richest people is Bernard Arnault, 74, chairman of LVMH Moet Hennessy Louis Vuitton, the world’s largest luxury goods maker with a net worth of $197.5 billion.

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Natalie Bezděková

I am a student of Master's degree in Political Science. I am interested in marketing, especially copywriting and social media. I also focus on political and social events at home and abroad and technological innovations. My free time is filled with sports, reading and a passion for travel.