Amazon founder Jeff Bezos has overtaken Bernard Arnault to become the world’s second-wealthiest person, trailing behind Tesla CEO Elon Musk.
The shift occurred on Monday morning as shares of LVMH, which Arnault oversees, fell while Amazon’s shares saw a slight increase. Throughout the day, Bezos and Arnault repeatedly traded positions for the title of the second-wealthiest person in the world.
As of just after 4 p.m. EDT on Monday, Bezos’s net worth stood at about $204.3 billion, marking an increase of approximately $2.4 billion for the day, according to Forbes’ Real-Time Billionaires List. In contrast, Arnault’s net worth declined to $203.9 billion, down $4.3 billion as of 4 p.m.
The fluctuation in rankings was influenced by LVMH’s shares dropping by 2.21% at the market close on Monday, while Amazon shares rose by 1.5%, contributing to Bezos’s slight increase in net worth.
Elon Musk maintains his position as the wealthiest person in the world, with Forbes estimating his net worth to be $207.8 billion as of Monday afternoon.
The billionaires’ tracker has witnessed several changes recently, with Musk and Arnault previously competing for the top spot. Over the last three months, Amazon’s stock has surged by more than 6%, while Tesla’s has increased by only 0.39%, and LVMH has experienced a decline of 12.99%. Musk’s fortune has fluctuated throughout the year, largely influenced by Tesla’s stock performance. Additionally, there is speculation that Musk could further solidify his lead if Tesla shareholders vote to reinstate his $50 billion pay package, which would increase his equity in Tesla from 13% to 22%.
Earlier this year, Bezos and Musk were engaged in a back-and-forth battle for the position of the second-wealthiest person globally and the wealthiest in the U.S. In March alone, the two exchanged positions 13 times. Before this, Musk had held the title of the richest person in the U.S. for over two years without interruption.
