After Elon Musk recently surpassed Jeff Bezos as the world’s richest person, it appears that the Amazon founder soon reclaimed his No. 1 position, as his net worth now exceeds Musk’s by US$955 million.
Tesla shares dropped by 2.4% on Tuesday, eliminating more than US$4.6 billion from Musk’s fortune and bringing the CEO down from the highest spot on the Bloomberg Billionaires Index ranking. Jeff Bezos, who had claimed the title of the world’s richest person for three years in a row, reclaimed the top spot with a net worth of US$191.2 billion.
It has been a momentous reign for Bezos, who once again returns to the pedestal, despite plans to step down from his title as Amazon’s CEO in the third quarter. Bezos revealed his abdication earlier this month, noting that he will use the additional time to focus on his other projects, including the Washington Post, as well as his space exploration company Blue Origin.
However, the race to the mantle as of the world’s richest person is only beginning to heat up, because it likely will not be long before Musk overtakes Bezos, again. Musk’s rival space exploration company, SpaceX, is currently in talks to raise capital at a valuation of US$92 billion, nearly double that of its current value.
Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.