Musk no longer richest man in the world, Bezos takes over

Elon Musk, the CEO of Tesla, might lose some of his money. He is no longer the richest man in the world as Jezz Bezos takes his spot.
Musk no longer richest man in the world, Bezos takes over

Elon Musk, who is the CEO of Tesla, might lose some of his money. This happened because a judge in Delaware canceled a deal that would have given him $55 billion. Because of this, Elon Musk is no longer the richest person in the world. Now, Jeff Bezos, the founder of Amazon, is the richest person. Elon Musk's company, Tesla, saw its stock prices go down by 7.2% on Monday, which caused him to lose his top spot on the Bloomberg Billionaires Index. Currently, Elon Musk's wealth is $197.7 billion, while Jeff Bezos has $200.3 billion.

This is the first time since 2021 that Jeff Bezos has become the richest person again. The gap between Elon Musk and Jeff Bezos has been getting smaller because the prices of Amazon and Tesla stocks are moving in opposite directions. Amazon's stock prices have been going up, almost doubling since late 2022, while Tesla's stock prices have gone down by about 50% since their highest point in 2021.

On Monday, Tesla's stock prices fell because the factory in Shanghai, where they make cars, had the lowest number of shipments in over a year. Meanwhile, Amazon had its best online sales growth since the start of the pandemic.

logo
NewsCrunch
news-crunch.com