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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Elon Musk Losts World's Richest Man to Jeff Bezos


Tue 05 Mar 2024 | 11:48 AM
Jeff Bezos, Elon Musk
Jeff Bezos, Elon Musk
Rana Atef

On Monday, Amazon founder Jeff Bezos restored the title of the world's richest man, dethroning Elon Musk on the Bloomberg Billionaires Index.

Bezos' net worth estimated at $200 billion to surpass Musk's net worth estimated at $198 billion.

Musk, who owns X  (Twitter), SpaceX and, Tesla, lost more than $30 billion after Tesla's share price dropped 25 percent in recent months, in addition, the court approval of the annulment of the Tesla compensation agreement, worth $55.8 billion.

On the other hand, Bezos benefited from the rising stock price of Amazon.

He recently sold off $8.5 billion in stocks, however, he is still the company's largest shareholder.

The French CEO of the LVMH, Bernard Arnault, retained his place on third on the list, worth $197 billion, followed by Meta founder Mark Zuckerberg, worth net $179 billion, and Microsoft founder Bill Gates, worth 150 billion.