In a monumental shift of fortunes, Jeff Bezos has reclaimed the title of the world’s wealthiest individual, surpassing Elon Musk for the first time since the autumn of 2021. As of Monday’s market close, the 60-year-old Amazon titan leads the Bloomberg Billionaire’s List with an astonishing net worth of $200 billion, largely fueled by his substantial 9% stake in the e-commerce behemoth, as per Bloomberg’s calculations.
Musk, whose fortune stood at $198 billion at the close of trading, now finds himself edged out of the top spot. Meanwhile, Bernard Arnault, the French luxury magnate behind LVMH, rounds out the top three with a fortune totaling $197 billion.
Bezos’ meteoric rise in wealth this year alone has seen an addition of $23.4 billion, a significant portion of which stems from his strategic sale of 50 million Amazon shares, amounting to roughly $8.5 billion. This divestment, executed over a span of two weeks, was conducted under a prearranged trading plan allowing for the sale of up to 50 million Amazon shares by January 31, 2025.
In addition to his Amazon holdings, Bezos’ vast personal wealth is also attributed to his ownership of Blue Origin, the space exploration firm he founded in 2000, as well as his acquisition of The Washington Post for $250 million in 2013.
Notably, Bezos and his fiancée, Lauren Sanchez, have made waves with their recent real estate acquisitions, splurging a combined $147 million on two opulent mansions situated on Miami’s Indian Creek island, colloquially known as “Billionaire Bunker.” The couple’s relocation from Seattle to Florida not only brings them closer to family and business interests but also offers substantial tax benefits, given Florida’s lack of income or capital gains taxes.
Meanwhile, Musk’s gradual descent from the top spot is attributed to Tesla’s volatile stock performance, which has seen a decline of more than 24% since the beginning of 2024. Despite holding a 13% stake in Tesla and spearheading ambitious ventures such as SpaceX, Musk’s net worth has taken a hit amid the electric carmaker’s fluctuating fortunes.
As Bezos basks in his renewed status as the world’s wealthiest person, the ongoing rivalry between these two titans of industry continues to captivate global attention, punctuating the ever-evolving landscape of wealth and power in the modern era.
