Jeff Bezos Surpasses Bernard Arnault and Gains 2nd Spot on Billionaires List

Jeff Bezos, the founder and executive chairman of Amazon, has surpassed Bernard Arnault of LVMH to regain his position as the world’s richest person. Bezos, who held the title of the world’s richest individual from 2017 to 2021, has seen his fortune grow by $32.6 billion this year alone. In contrast, Arnault, now in the second position, has experienced a significant decline, bringing his net worth to $205 billion.

The wealth rankings saw further shifts as Amazon shares rose and LVMH shares dropped. On Monday morning, Bezos briefly overtook Arnault when LVMH shares declined, with Bezos’ net worth reaching $204.3 billion by the end of the day, up by $2.4 billion. Arnault’s net worth fell to $203.9 billion after a $4.3 billion decrease, attributed to a 2.21% drop in LVMH shares. Meanwhile, Amazon shares saw a 1.5% increase.

Elon Musk remains the wealthiest person globally. The competition for the top spots has been dynamic, with Bezos and Arnault trading places multiple times in a single day. Recent months have seen frequent changes among the top billionaires, with Amazon shares rising over 6% in the past three months, compared to Tesla’s 0.39% increase and LVMH’s 12.99% decline.

Earlier this year, Bezos and Musk frequently alternated between the second and third positions. They exchanged places 13 times in March alone, highlighting the volatility at the top of the billionaires’ list. Musk, who had maintained his status as the richest person in the U.S. for over two years, now faces fluctuations in his wealth as Tesla’s stock performance varies. Musk’s financial standing could see a significant boost if Tesla shareholders approve a $50 billion pay package, potentially increasing his equity in the company from 13% to 22%.

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