The Amazon founder and Tesla CEO engage in a seesaw battle over their net worth, highlighting the volatile nature of elite tech fortunes.
Amazon founder Jeff Bezos reclaimed his position as the world’s second-richest person on Wednesday, just a day after Tesla head Elon Musk overtook him, Forbes reported.
However, Bezos, 60, remains behind LVMH magnate Bernard Arnault, 75, who holds the title of the world’s richest person.
Bezos’ net worth stands at $201.5 billion, thanks to a $511 million daily increase driven by a slight rise in Amazon shares, which edged up over 0.5% by noon on Wednesday.
Meanwhile, Musk, 52, with a net worth of $198.4 billion, was ranked third after Tesla shares dropped 3% on Wednesday to approximately $181 per share.
Despite the drop, Tesla shares have rebounded by nearly 28% over the past month, partly due to a reported agreement between Tesla and Chinese internet giant Baidu to bring Tesla’s electric vehicles to China.
Musk, the CEO of Tesla, SpaceX, Neuralink, and X, had held the first or second spot on Forbes’ real-time billionaire list from August 2021 until March 6, when Bezos pushed him down to third.
Since then, Bezos and Musk have been engaged in a back-and-forth battle for net worth supremacy, trading places 13 times in March alone.
According to Forbes, Arnault’s net worth is roughly $205.9 billion, putting him $5 billion ahead of Bezos, despite a significant drop in the LVMH magnate’s net worth on Wednesday.