In a never-ending battle for the top spot, Amazon’s Jeff Bezos has reclaimed the “richest person on Earth” title from tech billionaire Elon Musk. The latest Bloomberg Billionaires Index reveals that Bezos has a net worth of a staggering $200 billion, while Musk lags behind with $198 billion.
Bezos beats Musk in billionaire brawl
As per the Bloomberg Billionaires Index, Elon Musk’s wealth has decreased by $31 billion in the past year, while Bezos has gained $23 billion during the same period. Interestingly, Tesla’s stock plummeted by over 7% on Monday which could have contributed to Musk’s significant drop in net worth.
This latest news comes after Musk briefly held the top spot in the rankings earlier this year, dethroning LVMH CEO Bernard Arnault. Arnault’s wealth continues to grow due to an increase in sales of luxury goods, which has driven up LVMH’s stock price as well.
Despite Musk and Arnault’s growing wealth, Oxfam’s annual report on inequality highlights that the combined net worth of the world’s five richest people has increased by a whopping 114% or $869 billion since 2020, after adjusting for inflation.
Also read: Elon Musk Regains “World’s Richest Person” Title After Tesla Stocks Gain
It’s remarkable to see how the title of the richest person in the world majorly changes based on how well the market performs. And with the constant surge of the tech and luxury goods industries, it’s anyone’s guess who will be next in line to claim the throne.
Have anything to add to the story? Let us know in the comments section below!
