When it comes to guessing who the world’s richest person is almost everyone will come up with the name of the founder of Tesla, Elon Musk. Musk has been a popular face not only in the field of science or technology but in the entertainment industry as well. Billionaire Elon Musk who is now 52 years old is also the founder and CEO of SpaceX, SolarCity and Tesla Energy, Neuralink, The Boring Company and the popular social media handle, Twitter (now renamed X). Unlike other billionaires and well-known investors, Mr. Musk took on a number of high-risk investment ventures that eventually made him the world’s richest private citizen since 2021.
According to Bloomberg’s list, as of March 5, 2024 the founder of Amazon.com Inc., Jeff Bezos, has reversed his fortunes and has returned with the title of the richest person in the world, which he last had in 2021. This represents a substantial shift in the dynamics of wealth between Bezos and Elon Musk. On November 24, 2017, his wealth crossed the $100 billion mark for the first time, and on March 6, 2018, Forbes formally named him the world’s wealthiest person with a net worth of $112 billion. So Jeff Bezos has also been a popular figure in the world of business after all.
Jeff Bezos who is now 60 years old is an American businessman, investor, and media owner. Amazon is the largest e-commerce and cloud computing firm in the world. He is the founder, executive chairman, and former president and CEO of the company. He is also the founder and owner of Blue Origin, The Washington Post, Bezos Expeditions, Bezos Earth Fund and Bezos Academy.
In the recent news, for the first time in more than 9 months Elon Musk is no longer the world’s richest man. Musk lost his top spot on the Bloomberg Billionaires Index to Jeff Bezos following 7.2% decline last Monday in Tesla Inc. shares. Bezos now has a net worth of $200.3 billion, whereas Musk is currently worth $197.7 billion. The wealth gap between Musk, and Bezos, which once stood at $142 billion, narrowed as shares of Amazon and Tesla moved in opposite directions. While both are among the so-called Magnificent Seven stocks that led the US stock market, Amazon shares have more than doubled since the end of 2022 and are within striking distance of record highs. Tesla is down about 50% from its 2021 peak. It can be highly predicted that the Tesla car models which will be available for the public will be much cheaper and economic in the near future. Meanwhile Amazon is coming up with its best online sales growth since the Pandemic and has even come up with a lot of services, OTT platform, and numerous products worldwide.
