By There has been a significant upset among the rankings of the world’s wealthiest people, resulting in a change at the top of the rich list. Amazon founder Jeff Bezos has reclaimed the title of the world’s richest person, surpassing Tesla’s Elon Musk at the market close on Monday.
New Leader of the Pack
With a current net worth of $200 billion, Bezos now holds the top spot, followed closely by Musk with $198 billion and Bernard Arnault, the founder of LVMH, who boasts a personal fortune of $197 billion, as reported by the Bloomberg Billionaires Index.
Key Stock Movements
The shift in rankings was triggered by Tesla’s stock performance on Monday, with shares falling over 7% and causing Musk’s wealth to decline by $17.6 billion. Despite Bezos’ net worth also taking a hit of $500 million and Arnault losing $1.8 billion, the three billionaires continue to jostle for the top positions.
Fluctuating Fortunes
While Bezos and Arnault have seen gains of around $20 billion each in 2024, Musk’s wealth has decreased by $31 billion, primarily due to Tesla’s underperformance. The electric vehicle company’s stock has dropped by 24% this year, making it one of the worst performers in the S&P 500.
Looking Ahead
Although Musk faces challenges in reclaiming the top spot, there is still potential for him to bounce back if Tesla’s stock regains momentum.
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