March 5, 2024Business Desk

Jeff Bezos reclaims title of world's richest, ousting Elon Musk from top spot

Jeff Bezos has reclaimed the title of the world's wealthiest person, surpassing Elon Musk, with a net worth of $200.3 billion.

Source: Pexels

Amazon's soaring stock, doubling since late 2022, contrasts with Tesla's 50% decline from its peak, contributing to Bezos's wealth surge.

Source: Pexels

Tesla's 7.2% stock drop was attributed to weak Shanghai factory data, while Amazon's robust online sales boosted Bezos's fortune.

Source: Pexels

A Delaware judge invalidated Musk's $55 billion pay package at Tesla, impacting his wealth calculation despite significant stakes in Tesla and SpaceX.

Source: Instagram

Bezos's primary wealth source is his 9% stake in Amazon, even after selling $8.5 billion in shares last month, securing his top spot among billionaires.

Source: X