Amazon’s Jeff Bezos Named World’s Richest Person

Amazon (AMZN) founder Jeff Bezos has been named the world’s richest person with a net worth estimated at $200 billion U.S.

Bezos leap frogged over Tesla (TSLA) founder Elon Musk whose net worth is now estimated at $198 billion U.S.

Bernard Arnault, the founder of French luxury goods company LVMH (MC), is ranked the third richest person on the planet with a personal fortune of $197 billion U.S., according to the latest ranking of the Bloomberg Billionaires Index.

Bezos claimed the top spot as Amazon’s stock has gained 18% so far in 2024, bringing its 12-month increase to 89%. Amazon’s share price is currently at $177.58 U.S.

At the same time, Tesla’s stock has fallen 24% year-to-date and is down 3% over the past 12 months at $188.14 U.S. per share.

The three richest people in the world have traded places at the top spot of the Bloomberg Billionaires Index in recent years, usually due to share price performance.

Bezos and Arnault have each gained about $20 billion U.S. in net worth so far in 2024, while Musk’s fortune has declined by $31 billion U.S.

Tesla’s stock has been the sixth worst performer in the S&P 500 index so far this year.

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