Bloomberg: Jeff Bezos is once again the world’s richest person as favoured by rally in Big Tech
It’s been more than two years since Amazon founder Jeff Bezos was the world’s richest person, but he’s now back in the lead again.
Jeff Bezos just reclaimed his title as the world’s richest person.
Bezos’ wealth surge is due to a rally in Big Tech shares, incuding Amazon.
Tesla CEO Elon Musk now ranks second on the Bloomberg Billionaires Index.
As of Tuesday, Bezos is the world’s wealthiest man, with a net worth of $200 billion, according to the Bloomberg Billionaires Index.
Bezos reclaimed the top spot after a sustained rally in Big Tech shares on the back of the artificial intelligence boom. The last time Bezos was the world’s richest person was in 2021.
Amazon shares are up 17% this year to date and nearly 90% higher than a year ago. They closed 0.4% lower at $177.58 apiece on Monday.
Since Bezos owns about 9% of Amazon, the world’s largest online retailer, his net worth goes up when its stock rises. The billionaire also owns space exploration company Blue Origin, which Bloomberg also uses in its calculation.
Bezos, 60, unseated Tesla CEO Elon Musk, who was in the top spot for nine months. At one point, Musk was $142 billion richer than Bezos, per Bloomberg.
Bezos first surpassed Microsoft cofounder Bill Gates as the world’s richest person in 2017. Bezos was unseated by Musk in 2021 on the back of a Tesla share surge.
Musk and Bernard Arnault, the chairman of LVMH Moet Hennessy Louis Vuitton, are now the second and third richest people on the Bloomberg Billionaires Index. Their net worths currently stand at $198 billion and $197 billion, respectively.
Tesla’s stock is down 24% so far this year and 3% lower than a year ago. The EV maker’s shares tumbled 7% on Monday after its China sales slumped in February.
