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For the first time in more than nine months, Elon Musk is no longer the world\u2019s richest person.<\/p>\n
Musk lost his position atop the Bloomberg Billionaires Index to Jeff Bezos after shares in Tesla<\/a> Inc. tumbled 7.2% on Monday. Musk now has a net worth of $197.7 billion; Bezos\u2019 fortune is $200.3 billion.\u00a0<\/p>\n It\u2019s the first time that Bezos, 60, the founder of Amazon<\/a>.com Inc., has topped Bloomberg\u2019s ranking of the richest people since 2021.<\/p>\n The wealth gap between Musk, 52, and Bezos, which at one point was as wide as $142 billion, has been shrinking as Amazon and Tesla shares move in opposite directions. While both are among the so-called Magnificent Seven stocks that have propelled US equity markets, Amazon shares have more than doubled since late 2022 and are within striking distance of a record high. Tesla is down about 50% from its 2021 peak.<\/p>\n Tesla shares fell on Monday after preliminary data showed\u00a0shipments<\/a>\u00a0from its factory in Shanghai slumped to the lowest in more than a year. Amazon, meanwhile, is coming off its\u00a0best online sales growth<\/a>\u00a0since early in the pandemic.\u00a0<\/p>\n Musk\u2019s wealth could take a further hit after a Delaware judge struck down his $55 billion pay package at Tesla, where he\u2019s chief executive. The decision took the side of an investor who\u2019d challenged Musk\u2019s compensation plan, which had been the largest in history.\u00a0<\/p>\n Options that were included in the voided plan are one of Musk\u2019s largest assets, alongside his stakes in Tesla and SpaceX<\/a>. The Bloomberg index continues to include them in its calculations of his wealth.<\/p>\n The vast majority of Bezos\u2019s fortune comes from his 9% stake in Amazon. He\u2019s the online retailer\u2019s largest shareholder, even after unloading 50 million shares worth about $8.5 billion last month.<\/p>\n For Bezos, being atop the wealth rankings is a familiar perch. He first overtook Microsoft<\/a> Inc. co-founder Bill Gates as the world\u2019s richest person in 2017.\u00a0<\/p>\n But a massive rally in Tesla shares left Bezos jockeying with Musk for much of 2021 for the top spot. Late that year he fell way behind, and didn\u2019t regain the No. 1 position until now.<\/p>\n Bernard Arnault, 74, the chairman of LVMH Moet Hennessy Louis Vuitton, the world\u2019s largest luxury-goods maker, also ranks among the world\u2019s wealthiest with a net worth of $197.5 billion. \u00a0<\/p>\n<\/div>\nPay Package<\/h2>\n
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