According to the Bloomberg Billionaires Index on, Jeff Bezos has once again become the richest person on Earth, surpassing Elon Musk.
Bezos’ net worth stood at $200 billion, while Musk trailed closely behind at $198 billion.
Over the past year, Musk’s wealth has decreased by approximately $31 billion, whereas Bezos has seen an increase of $23 billion, as reported by the index.
PHOTO: PHILLIP FARAONE/GETTY; PASCAL LE SEGRETAIN/GETTY
Tesla shares experienced a decline of over 7%.
Elon Musk and Bernard Arnault
In May 2023, Musk had overtaken LVMH CEO Bernard Arnault to reclaim the title of the world’s richest person. Arnault oversees a conglomerate that includes renowned brands such as Louis Vuitton, Dior, and Celine.
Arnault had held the title as his wealth surged due to a boom in luxury goods sales, which drove up LVMH’s stock price.
Earlier this year, a Delaware state court judge invalidated Musk’s 2018 compensation package, valued at over $50 billion, which had contributed to his ascent as one of the wealthiest individuals globally.
Tesla shares have also seen a decline of approximately 24% year-to-date.
It’s worth noting that the title of the richest person on earth frequently changes hands based on market performance.
However, Musk and Arnault still possess considerable wealth.
Jeff Bezos Projected Future Wealth
Since 2020, the combined net worth of the five wealthiest individuals globally has surged by 114%, totaling $869 billion after adjusting for inflation, according to Oxfam’s annual inequality report.
Bezos may maintain his position as the richest person for the foreseeable future. A study by Comparisun predicts that the Amazon CEO will achieve trillionaire status by 2026.
By analyzing Bezos’s average yearly growth percentage over the past five years, sourced from the Forbes Billionaires List, researchers calculated his annual wealth growth rate.
The findings indicate that he would enter the trillion-dollar club by the age of 62.
Besides his prominent e-commerce venture, Bezos holds stakes in various companies including Whole Foods, Airbnb, Twitch, Audible, and the aerospace firm Blue Origin.
In 2023, the world’s 500 wealthiest individuals collectively saw a $1.5 trillion increase in their fortunes, a stark contrast from the previous year when they suffered losses nearing $2 trillion.
This surge was largely propelled by the exceptional performance of technology stocks, resulting in a 48 percent wealth spike equating to $658 billion.
Musk led this surge, amassing an additional $95.4 billion last year, elevating his net worth to $232 billion.
Meanwhile, Mark Zuckerberg saw a notable gain of $84 billion, and L’Oreal heiress Françoise Bettencourt Meyers became the first woman to surpass a $100 billion fortune.
Bloomberg suggests keeping an eye on Israeli-American physician Miriam Adelson, valued at $35.5 billion, and Steve Cohen, a recent investor in the PGA Tour with a net worth of $13.9 billion, in 2024.
The developments of this year will determine the fate of everyone on the list.
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