World
Musk Topples Bezos As World’s 2nd Richest Person—Net Worth Nears $200 Billion
Topline
Billionaire Tesla, SpaceX and X head Elon Musk saw his net worth spike to nearly $200 billion on Tuesday, taking back the title of world’s second-richest person from Amazon founder Jeff Bezos—though he still trails behind LVMH magnate Bernard Arnault, the world’s richest person.
Billionaire Elon Musk’s net worth stands at nearly $200 million.
Key Facts
Musk’s net worth stands at $199.9 billion, the result of a $5 billion daily jolt driven in part by a surge in shares of his electric vehicle maker Tesla, which gained nearly 6% on the day, to over $185 per share.
While Tesla shares have taken a tumble since hitting a peak over $400 in late 2021, the company’s shares have since rebounded, climbing nearly 30% over the past month, thanks partly to a reported agreement between Tesla and Chinese internet giant Baidu to bring the EVs to China.
Bezos, meanwhile, has lost an estimated $1.5 billion on Tuesday, bringing his net worth just below $200 billion on the heels of a slight dip in Amazon shares, dropping just over 1% on the day to roughly $181.
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Surprising Fact
Musk, the billionaire head of Tesla, SpaceX, Neuralink and X (formerly Twitter) had stood in the first or second spot on Forbes’ real-time billionaire list from August 2021 to March 6, when Bezos knocked him down to third. Since then, Bezos and Musk have been entwined in a series of net worth flip-flops, with the billionaire duo taking the lead from one another on 13 separate occasions during the month of March alone. Bezos reclaimed the coveted second spot once again from Musk earlier this month, amid Wall Street turbulence for Tesla, Musk’s company with the biggest market cap, at $566.23 billion. The back-and-forth comes on the heels of a Bezos wealth renaissance. Bezos, who also owns aerospace company Blue Origin and The Washington Post, stepped down as Amazon’s CEO in 2021, transitioning to the company’s executive chairman. He still owns roughly 10% of the company, which has seen a 21% rise in stock year-to-date.
Forbes Valuation
We estimate Bernard Arnault, the world’s richest man, has a net worth of roughly $210.8 billion, putting him just over $10 billion ahead of Bezos and Musk. Arnault, 75, is the chairman and CEO of LVMH, the fashion empire behindBulgari, Christian Dior, Sephora and Louis Vuitton
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