International
On Monday, Tesla Inc.'s stock plummeted once again, resulting in Elon Musk losing his position as the world's richest person.
Amazon founder Jeff Bezos reclaimed the top spot on Bloomberg's Billionaires Index on Monday, marking the first time since late 2021 that Musk was surpassed. This shift occurred after nine months of Musk holding the top position, during which he briefly lost it to LVMH CEO Bernard Arnault.
As of Monday, Bezos's total net worth was reported at $200 billion, surpassing Musk's $198 billion and Arnault's $197 billion. Bloomberg reported that Musk's fortune has decreased by $31 billion year-to-date, while Bezos's has increased by $23.4 billion.
Bezos managed to reclaim the top position despite selling approximately 50 million Amazon shares, valued at around $8 billion, last month. He still retains about a 9% stake in the tech giant, whose shares (AMZN) have risen by about 17% year-to-date.
Meanwhile, Tesla shares experienced a decline of over 7% on Monday following the introduction of new price cuts and discounts in the U.S. and China by the electric vehicle maker.
Much of Musk's wealth is tied up in Tesla stock (TSLA), which has fallen by about 24% year-to-date. Additionally, in January, a Delaware judge invalidated Musk's $56 billion compensation package.
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