Bezos dethrones Musk as world’s richest man

Amazon founder, Jeff Bezos, took back his spot as the world’s richest man on Monday, March 4, 2024, dethroning X owner, Elon Musk, on the Bloomberg Billionaires Index.

Bezos’ net worth stands at $200 billion, according to the tracker, surpassing the Tesla chief’s $198 billion.

Musk, who also heads X (formerly Twitter) and SpaceX, has seen his riches fall by more than $30 billion as Tesla’s share price has dropped 25 percent in recent months.

Adding to Musk’s woes, a court in January approved the annulment of his enormous Tesla compensation agreement, worth $55.8 billion and originally struck in 2018.

Bezos, who no longer runs Amazon, has meanwhile benefited from the ecommerce giant’s rising stock price.

Even after recently selling off $8.5 billion in stocks he remains the company’s largest shareholder.

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The French CEO of the luxury group LVMH, Bernard Arnault, remains in third place in the rankings of the world’s richest people, worth $197 billion.

Bezos, born on January 12, 1964, is an American businessman, media proprietor, and investor.

He is the founder, executive chairman, and former president and CEO of Amazon, the world’s largest e-commerce and cloud computing company.

He was the wealthiest from 2017 to 2021, according to both the Bloomberg Billionaires Index and Forbes.

Bezos graduated from Princeton University in 1986 with degrees in electrical engineering and computer science.

He worked on Wall Street in a variety of related fields from 1986 to early 1994.

Bezos founded Amazon in 1994 on a road trip from New York City to Seattle. The company began as an online bookstore and has since expanded to a variety of other e-commerce products and services, including video and audio streaming, cloud computing, and artificial intelligence.

Amazon is the world’s largest online sales company, the largest internet company by revenue, and the largest provider of virtual assistants and cloud infrastructure services through its Amazon Web Services branch, according to Wikipedia.

The Star