Printed: March 4, 2024 at 8:12 p.m. ET
Tesla Inc.’s inventory sank once more on Monday, costing Elon Musk his identify as international’s richest particular person. Amazon founder Jeff Bezos changed the Tesla leader government atop Bloomberg’s Billionaires Index on Monday for the primary time since past due 2021. It used to be the primary time Musk had misplaced the highest spot in 9 months, when LVMH CEO Bernard Arnault in short surpassed him. In accordance…
Tesla Inc.’s inventory sank once more on Monday, costing Elon Musk his identify as international’s richest particular person.
Amazon founder Jeff Bezos changed the Tesla leader government atop Bloomberg’s Billionaires Index on Monday for the primary time since past due 2021. It used to be the primary time Musk had misplaced the highest spot in 9 months, when LVMH CEO Bernard Arnault in short surpassed him.
In step with Bloomberg’s index, Bezos’s general web price as of Monday used to be $200 billion, topping Musk’s $198 billion and Arnault’s $197 billion. Musk’s fortune has declined through $31 billion 12 months up to now, in step with Bloomberg, whilst Bezos’s has risen through $23.4 billion.
Bezos reclaimed the highest spot regardless of promoting about 50 million Amazon stocks, price kind of $8 billion, final month. He nonetheless holds a couple of 9% stake within the tech large. Amazon stocks
AMZN
are up about 17% 12 months up to now.
Tesla stocks slid greater than 7% on Monday after the EV maker presented new worth cuts and reductions within the U.S. and China. A lot of Musk’s fortune is in Tesla inventory
TSLA
,
which has fallen about 24% 12 months up to now; in January, a Delaware pass judgement on voided Musk’s $56 billion reimbursement package deal.
Ready within the wings is France’s Arnault, whose wealth has grown through $18 billion this 12 months, in step with Bloomberg, as LVMH inventory
MC
has received about 15% 12 months up to now in Paris buying and selling.
