Amazon founder and chairman Jeff Bezos reclaimed his position as the second-wealthiest person in the world on Thursday, overtaking Tesla CEO Elon Musk in the ongoing battle of billionaires. Bezos, whose estimated net worth is $199.6 billion, surpassed Musk, who has an estimated net worth of $197.4 billion. This marks the second switch of the week for the two tech moguls, as Musk had previously overtaken Bezos on Monday after a surge in Tesla stock.
Bezos’ estimated net worth increased by about $2.5 billion on Thursday, while Musk’s fortune decreased by about $276 million. Despite this, the wealthiest person in the world is still LVMH’s Bernard Arnault, who is worth an estimated $206.9 billion as of Thursday morning. Amazon’s stock was up 1.84% at noon EDT on Thursday, while Tesla’s share price only increased by about 0.08%.
The ongoing battle for the title of second-wealthiest person in the world has been a back-and-forth struggle between Bezos and Musk for months. They have flip-flopped at least 13 times in March alone. Before March, Musk had consistently held the top two spots on the real-time billionaire rankings. However, on March 6, he fell outside of the top two for the first time since August 19, 2021. Bezos had a resurgence of wealth earlier this year, while Musk’s wealth fluctuated as Tesla faced challenges, including recent staff cuts.
The fluctuation in wealth for Bezos and Musk reflects the volatile nature of the stock market and the tech industry. Both billionaires have seen significant gains and losses in their net worth over the past year, with Bezos briefly losing his title as the wealthiest person in the world to Musk in 2021. The ongoing battle between the two billionaires highlights the competitive nature of the tech industry and the constant pursuit of wealth and success.
Despite their vast fortunes, Bezos and Musk have also faced criticism and scrutiny for their business practices and personal wealth. Bezos, in particular, has been criticized for his company’s treatment of workers and the environmental impact of Amazon’s operations. Musk has faced criticism for his controversial remarks on social media and his leadership style at Tesla. Both billionaires continue to be influential figures in the tech industry and the business world.
As Bezos and Musk continue to battle for the title of the second-wealthiest person in the world, their fortunes will likely continue to fluctuate as the stock market and the tech industry evolve. Their ongoing competition underscores the dynamic nature of wealth and success in the modern business world, where fortunes can change rapidly and billionaires jockey for position on the global stage.
