Jeff Bezos regains world's richest person title as Elon Musk's brief stint ends

Amazon founder and Chief Executive Jeff Bezos has reclaimed his position as world’s richest person overthrowing Elon Musk’s brief reign at the rank. Last month, Bezos was surpassed by Musk in the Bloomberg Billionaires Index after the latter’s net worth topped $185 billion. However, a recent drop in Tesla’s share has wiped out over four billion from Musk’s fortune bringing him down to number two.

The shares of Tesla Inc. plummeted by 2.4 per cent on Tuesday, February 16 wiping $$4.6 billion from Musk’s total wealth. Meanwhile, Bezos, who had held the title for over three years until last month, regained his number one position with a net wealth of $191.2 billion, or $955 million more than SpaceX CEO.

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Bloomberg Billionaires Index rankings

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people and is based on closing figures at the New York Stock Exchange. As of January 16, Bezos remains at the top with a total net worth of $191 billion followed by Musk with $190 billion. Third on the list is Bill Gates with a net worth of $137 billion, next is Bernard Arnault with $116 fortune and fifth in the list is Mark Zuckerberg with a net worth of $104 billion.

Regardless, Musk has been at the front and centre of some of the biggest market events so far this year. Solely with his tweets, he shot the shares of Shopify Inc., Signal Advance Inc., Etsy Inc., and CD Projekt SA. In addendum, he also stirred the rates of Bitcoin and even Dogecoin.

On the other hand, Bezos stunned everyone with the announcement of his resignation from the post of Amazn Inc.’s chief executive.  Bezos in an email to the employees revealed that he was ‘excited to announce’ in the third quarter of 2021, he’ll resign as the Amazon CEO and instead be the Executive Chair of the Amazon Board. Subsequently, Jassy who joined the company in 1997 after it was founded in 1994, will be the new CEO. Bezos also hailed Jassy who according to Amazon CEO is “well known” inside the company and “has been at Amazon almost as long as I have”.

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