Jeff Bezos surpasses Elon Musk to become the wealthiest person on Earth according to Amazon’s recent report.

Jeff Bezos, the founder and executive chairman of Amazon, has once again become the richest person in the world, surpassing Elon Musk in the ongoing battle for the title. This marks a significant milestone for Bezos, who has been selling billions of dollars worth of Amazon stock in recent weeks. On Monday, he reclaimed his position at the top of the Bloomberg Billionaires Index with a net worth of $200 billion. This represents an increase of $23.4 billion since 2021.

Bezos, Musk, and Bernard Arnault have been trading positions on the list of the world’s richest people for some time now. However, Forbes still has Arnault and his family ranked as number one with a net worth of $228.8 billion, while Musk is ranked second with $202.3 billion and Bezos is third with $198.5 billion.

Musk’s wealth is closely tied to Tesla’s stock performance, which has taken a hit in recent weeks. Tesla’s stock declined by more than 24% at the beginning of 2021 and was one of the worst performing companies on the S&P 500 at that time. Additionally, Musk suffered another blow when a judge voided his historic $56 billion executive compensation package earlier this year, deeming it unfair to shareholders.

In contrast, Bezos made headlines last month after selling a total of 50 million Amazon shares worth approximately $8.4 billion in just nine trading days. This marked his first sale of Amazon stock since 2021 and could potentially help him save almost $600 million in taxes on those sales if he moves to Florida, where there is no capital gains tax on stocks sold for personal use or investment purposes.

Overall, this development highlights how closely tied these individuals’ fortunes are to their respective companies’ stock performance and how quickly their positions on these lists can change depending on market conditions and other factors.

By Riley Johnson

As a content writer at newsmol.com, I dive into the depths of information to craft compelling stories that captivate and inform readers. With a keen eye for detail and a passion for storytelling, I strive to create engaging content that resonates with our audience. Whether it's breaking news, in-depth features, or thought-provoking opinion pieces, I am dedicated to delivering high-quality, informative content that keeps readers coming back for more. My goal is to bring a fresh perspective to every article I write and to make a meaningful impact through the power of words.

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