Jeff Bezos has once again shot up to his title of world’s richest person, ending Elon Musk’s position atop the list.
Musk lost about $4.5 billion Tuesday after Tesla shares fell 2.4%, which was enough to send him to second spot on the Bloomberg Billionaires Index ranking.
Bezos’ net worth also fell as the broader stock market lost a bit of ground — but his loss wasn’t as extreme, only taking a hit of about $372 million. That was enough to recapture his title that he held for about three years.
The index currently says Bezos is worth $191 billion compared to Musk’s $190 billion which immediately makes him the world’s richest man.
Musk’s surge to first place happened in early January when Tesla’s stock was skyrocketing. The 170 million shares of Tesla he already owns increased in value by $106 billion during 2020, as shares shot up 743% during the course of the year.
Bezos had a rather robust 2020, too. The Amazon CEO’s stake in the company increased by $75 billion in 2020, to $173.3 billion, given the huge increase in sales driven by the Covid-19 pandemic. Earlier this month, he announced he’s leaving his role as Amazon CEO and will transition to the role of the executive chair later this year.