Jeff Bezos surpasses Elon Musk to become the wealthiest person on Earth according to Amazon’s recent report.

Jeff Bezos, the founder and executive chairman of Amazon, has once again become the richest person in the world. This marks a significant milestone for Bezos, who had been surpassed by Elon Musk in the ongoing battle for the title of the world’s richest person. As of Monday, Bezos has reclaimed his position on the Bloomberg Billionaires Index with a net worth of $200 billion, marking an increase of $23.4 billion compared to his net worth last year.

Musk, the CEO of Tesla, has fallen to second place with a net worth of $198 billion after Tesla’s stock declined by more than 24% in early 2024. This recent development marks Bezos’ return to the top spot on the Bloomberg list for the first time since fall 2021. The three men – Bezos, Musk, and Bernard Arnault, chairman of luxury conglomerate LVMH – have been trading positions as the world’s richest person among themselves for some time now. However, Forbes still ranks Arnault and his family as number one on its Real Time Billionaires List with a net worth of $228.8 billion as of late February 2024. Musk is ranked second with $202.3 billion while Bezos is third with $198.5 billion.

Bezos’ rise to becoming richer was driven largely by recent sales of billions of dollars worth of Amazon stock in recent weeks. By moving to Florida, a state without capital gains tax, he could potentially save almost $600 million in taxes on these sales alone.

Musk’s wealth is closely tied to Tesla’s stock performance which has taken a hit recently due to regulatory issues and declining sales figures in China.

In conclusion, this recent development marks a significant milestone for Jeff Bezos who has once again reclaimed his title as the richest person in the world after overtaking Elon Musk on Monday.

By Sophia Gonzalez

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