Jeff Bezos returned to the top.
The outgoing CEO of Amazon returned his crown as the richest person in the world, bringing the rule of Tesla boss Elon Musk to an end after only six weeks.
The change of guard occurred even though the fortunes of both billionaires declined on Tuesday as their companies ’stock prices fell.
JEFF BEZOS WOULD LIVE 2 GBP A YEAR UNDER THE PROPOSED WASHINGTON WEALTH TAX
Bezos, 57, saw its net worth fall 372 million to $ 191 billion thanks to a roughly 0.3 percent drop in Amazon shares, according to the Bloomberg Billionaires Index.
But a 2.4 percent drop in Tesla’s shares wiped out nearly $ 4.6 billion from Musk’s fortune, putting the 49-year-old technology tycoon in second place with $ 190 billion in wealth, according to Bloomberg’s rankings.
|AMZN||AMAZON.COM INC.||3,295.11||+26.16||+ 0.80%|
Bezos regained his title just about two weeks after announcing he would step down as Amazon CEO in the third quarter of this year. He will continue to be the executive president of the e-commerce empire he founded 27 years ago.
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Bezos ’11 percent stake in Amazon is estimated at $ 174 billion, making up more than 90 percent of its total wealth, Bloomberg data show. In recent years, it has gradually sold shares in part to fund Blue Origin, its space exploration company that competes with Musk’s SpaceX.
Musk ended Bezos’ three-year rule as the richest man in the world in early January amid a staggering rise in Tesla stock prices. Shares of electric carmakers rose about 13 percent this year, despite falling since Tuesday, helping add more than $ 20 billion to Musk’s net worth.
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Musk remained at the top of the list of the rich unforgettable cementing his power to move the market with posts on Twitter. It caused a jump in stock prices like Etsy and Signal Advance and raised the price of Dogecoin, a cryptocurrency inspired by a meme.