In a surprising turn of events, the tech magnate and CEO of X, Elon Musk, has descended to the second position in the Bloomberg Billionaires Index. His net worth now stands at $197.7 billion, following a significant drop in Tesla Inc. shares.
The throne is now occupied by Amazon’s head, Jeff Bezos, boasting an impressive net worth of $200 billion, surpassing Musk’s $198 billion.
This year has been a rollercoaster for both. Bezos’ fortune swelled by $23 billion, while Musk, also the chief of Twitter, faced a staggering loss of around $31 billion.
When comparing these two titans, Amazon’s stock price has surged by over 18% this year, while Tesla’s has dipped by 24%. Despite offloading $8.5 billion worth of Amazon shares recently, Bezos still holds the title of the largest shareholder with a 9.56% stake.
Conversely, Musk retains approximately 20% equity stake in Tesla. The internet tycoon’s portfolio also includes the prominent social platform X and SpaceX. He ascended to the top spot in May this year, surpassing LVMH owner Bernard Arnault, who currently holds the third position in the coveted list.
