New York: Elon Musk is no longer the world’s richest person. Musk lost his position, for the first time in nine months, to Jeff Bezos after shares in Tesla tumbled 7.2% on Monday.
Musk now has a net worth of $197.7 billion; Bezos’ fortune is $200.3 billion.
It’s the first time that Bezos, 60, the founder of Amazon.com Inc., has topped Bloomberg’s ranking of the richest people since 2021.
The wealth gap between Musk, 52, and Bezos, which at one point was as wide as $142 billion, has been shrinking as Amazon and Tesla shares move in opposite directions. While both are among the so-called Magnificent Seven stocks that have propelled US equity markets, Amazon shares have more than doubled since late 2022 and are within striking distance of a record high. Tesla is down about 50% from its 2021 peak.
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