On Tuesday, Amazon CEO Jeff Bezos overtook Elon Musk to reclaim the title of world’s richest person, after shares of Tesla slid more than 2.4% erasing $4.6 billion from its chief executive’s fortune and knocking him from the top spot on the Bloomberg Billionaires Index ranking.
Jeff Bezos, who’d held the title for more than three years until last month, reclaimed his No. 1 position with a net worth of $191.2 billion, or $955 million more than Musk. The Amazon founder’s personal wealth, which is mostly in Amazon stock, has skyrocketed in recent years along with the company’s share price. Bezos has continued to notch new wealth milestones..
Bezos owns space exploration company Blue Origin as well as the Washington Post and has accelerated his philanthropic giving in recent years. Amazon shares have climbed 53% in the last 12 months. It may not be long, though, before Musk leapfrogs Bezos once again
Musk’s SpaceX, a rival to Bezos’ Blue Origin, has been in talks to raise funds that would significantly increase its valuation. SpaceX completed an $850-million funding round last week at a valuation of $74 billion.