With a net valuation of $191.2 billion, or $955 million more than Musk, Jeff Bezos, who had held the title for more than three years before last month, took back his No. 1 spot.
The reign of Elon Musk as the richest man in the world was brief.
On Tuesday, Tesla Inc.’s stock slid 2.4 percent, erasing $4.6 billion from the fortune of its chief executive officer and knocking him from the top spot on the list of the Bloomberg Billionaires Index.
Jeff Bezos, who’d already held the title for more than three years before the last month, recouped his No. 1 ranking with a net valuation of $191.2 billion, or $955 million far beyond Musk.
Musk’s drop is almost six weeks away from being the richest person in the world who saw him at the front and center of some of the largest market events this year so far. He fueled the fire of the Reddit-driven GameStop Corp. protest and then sent the shares of Etsy Inc., Shopify Inc., CD Projekt SA, and Signal Advance Inc. up with booster tweets.
Recently, the value of Bitcoin and even Dogecoin roiled, a lesser-known cryptocurrency that Elon rocketed with a tweeted meme earlier in the month. Bitcoin in the meantime blew past $50,000 days after Tesla unveiled plans to hold $1.5 billion of the cryptocurrency on its balance sheet. Still, despite Musk’s seemingly constant presence in social media, Tesla’s share has dropped almost 10% from the peak of January 26.
It’s also been an enthralling stretch for Bezos. He returns to the helm of the richest person in the world as he is about to give his title. Amazon.com Inc. announced recently that Bezos will step down as CEO of the e-commerce giant in the third quarter to fixate on other initiatives. Bezos owns the space exploration company Blue Origin as well as the Washington Post and has accelerated its philanthropy in recent years. In the last 12 months, Amazon’s shares have increased by 53 percent.
This may not be long before Musk leapfrogs Bezos again. Musk’s SpaceX, a rival to Bezos’ Blue Origin, is talking about raising funds at a value of up to $92 billion, doubling its current value.