After more than two years, Amazon founder Jeff Bezos has once again claimed the title of the world’s richest person. With a net worth of $200 billion, Bezos leads the pack on the Bloomberg Billionaires Index, propelled by a surge in Big Tech shares driven by the artificial intelligence sector.
The Big Tech Rally
Bezos’ return to the top spot comes amid a sustained rally in Big Tech stocks, particularly Amazon. The e-commerce giant’s shares have soared by 17% this year and nearly 90% over the past year. As Bezos holds approximately 9% of Amazon’s shares, his net worth escalates with the company’s stock performance. Additionally, Bezos’ ownership of the space exploration company Blue Origin contributes to his overall wealth.
Ousting Elon Musk
Bezos’ resurgence in wealth saw him surpass Tesla CEO Elon Musk, who held the title of the world’s richest person for nine months. Musk’s fortune, which at one point exceeded Bezos’ by $142 billion, now places him second on the Bloomberg Billionaires Index with a net worth of $198 billion.
Historical Context
This isn’t Bezos’ first time at the top of the wealth rankings. He initially surpassed Microsoft co-founder Bill Gates in 2017. However, Bezos was later dethroned by Musk in 2021 during a surge in Tesla’s stock value. Now, with Tesla’s shares down 24% for the year and 3% lower than a year ago, Musk finds himself trailing Bezos once again.
The Top Three
Following Bezos and Musk, Bernard Arnault, chairman of LVMH Moet Hennessy Louis Vuitton, rounds out the top three richest individuals on the Bloomberg Billionaires Index, with a net worth of $197 billion. While Bezos’ reign as the world’s wealthiest person is contingent on the fluctuating fortunes of Big Tech, his return to the top serves as a reminder of the immense wealth generated by the technology sector’s leading figures.
