Amazon founder Jeff Bezos took back his spot as the world’s richest man on Monday, surpassing Elon Musk on the Bloomberg Billionaires Index.
According to the tracker, Bezos’ net worth is $200 billion, surpassing the Tesla chief’s $198 billion.
Musk, who also heads X (formerly Twitter) and SpaceX, has experienced a decrease in his wealth by over $30 billion due to Tesla’s share price declining by 25 percent in recent months.
Adding to Musk’s challenges, a court in January approved the nullification of his massive Tesla compensation agreement, initially valued at $55.8 billion and negotiated in 2018.
Bezos, although no longer actively managing Amazon, has seen his wealth grow thanks to the ecommerce giant’s increasing stock price. Despite recently selling off $8.5 billion in stocks, he remains the company’s largest shareholder.
Bernard Arnault, the CEO of luxury group LVMH, retains his third position in the world’s richest rankings, with a net worth of $197 billion.