Foreign Property News | Posted by Hnin Ei Khin
Jeff Bezos has reclaimed the title of the richest person on earth, surpassing Elon Musk, according to the Bloomberg Billionaires Index on Monday.
The Amazon founder’s net worth was $200 billion, while Musk followed at $198 billion.
Musk has lost about $31 billion over the past year, while Bezos has gained $23 billion, according to the index.
Tesla shares had tumbled more than 7% on Monday.
The three centibillionaires — Musk, Arnault and Bezos — have been in competition with each other for the top spot for months.
Arnault had held the title as his wealth climbed due to a boom in luxury goods sales that helped drive up LVMH’s stock price.
Earlier this year, a Delaware state court judge threw out Musk’s 2018 pay package — worth more than $50 billion — that helped to make him one of the richest people in the world.
Tesla shares also tumbled about 24% year-to-date. Of course, the title of the richest person on earth swaps every few months, depending on markets performance.
Musk and Arnault still hold plenty of wealth — since 2020, the net worth of the five wealthiest people on earth has skyrocketed 114% to a total of $869 billion, after taking inflation into account, according to Oxfam’s annual inequality report.
Ref: Jeff Bezos Surpasses Elon Musk as World’s Richest Person
Photo Credit: Getty Images
