Shares of Tesla Inc fell again on Monday, costing Elon Musk his title as the world's richest person.
Amazon founder Jeff Bezos replaced Tesla CEO at the top of the Bloomberg Billionaires Index on Monday for the first time since late 2021. It was the first time Musk had lost the top spot in nine months, when LVMH CEO Bernard Arnault briefly overtook him.
According to the Bloomberg index, Bezos' total net worth as of Monday was $200 billion, surpassing Musk's fortune of $198 billion and Arnault's fortune of $197 billion. Musk's wealth has fallen by $31 billion year to date, according to Bloomberg, while Bezos' fortune has risen by $23.4 billion.
Bezos regained first place despite selling about 50 million shares of Amazon stock, worth approximately $8 billion, last month. He still owns about 9% of the tech giant's shares. Amazon stock AMZN,
It's up about 17% year to date.
Tesla shares fell more than 7% on Monday after the electric car maker introduced new price cuts and discounts in the United States and China. Most of Musk's wealth is in Tesla shares.
Which has decreased by about 24% since the beginning of the year until now. In January, a Delaware judge invalidated Musk's $56 billion compensation package.
Waiting in the wings is Frenchman Arnault, whose wealth has increased by $18 billion this year, according to Bloomberg, while LVMH MC shares,
It has gained about 15% year to date in Paris trading.
