Jeff Bezos Reclaims Richest Man In The World Title From Elon Musk

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Jeff Bezos is once again the richest man in the world. With an estimated $191.2 billion worth, the founder of Amazon managed to reclaim the throne briefly occupied by Elon Musk, CEO of Tesla. Bezos benefits in particular from the explosion of Amazon’s stock market price and the turbulence recorded by Tesla on the Chinese market. Explanations.

Jeff Bezos, founder and former CEO of Amazon, is the richest man in the world according to the Bloomberg Billionaires Index, the ranking of the 500 richest people in the world. With a total fortune of $191.2 billion, Amazon’s largest shareholder ousted Elon Musk from the top spot.

Tesla founder and CEO Elon Musk won the Bloomberg rankings at the start of January 2021. The eccentric billionaire had notably benefited from the explosion in Tesla’s stock price over the past year. Elon Musk’s fortune is now estimated at $ 190.2 billion.

Jeff Bezos Profits From Rising Amazon Price

The increase in Jeff Bezos’ fortune is essentially the result of the rise in Amazon’s stock price. After a slight drop at the end of 2020, the group’s share price recovered in February. Amazon stock now stands at $ 3,268.95, driven by the company’s excellent financial results ($ 320 billion in sales in 2020, up 38% from 2019).

At the same time, Tesla’s stock market has entered a downtrend in recent days. The action of the automotive group is stagnant around 796.22 dollars. Investors were scalded by Tesla’s struggles in China. After the problems faced by several motorists, the car maker was summoned by the State Administration for Market Regulation (SAMR) of China.

However, most (99% according to Forbes) of Elon Musk’s fortune is based on the actions of his firm . The Tesla executive has very little cash. For his part, Jeff Bezos has at least $ 9.53 billion in cash. Unlike Musk, Bezos regularly sells Amazon shares to boost his capital.

In the third position, we find unsurprisingly Bill Gates, the famous founder of Microsoft. Bloomberg estimates Gates’ fortune at $ 137 billion. The computer scientist is followed by Bernard Arnault (116 billion dollars) and Mark Zuckerberg, founder and CEO of Facebook (104 billion dollars).

Source: Naija News





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