Published: March 4, 2024 at 8:12 PM ET
Tesla Inc.’s inventory value fell once more on Monday, costing Elon Musk his title because the world’s richest individual.
Amazon founder Jeff Bezos on Monday changed the Tesla chief government on the prime of the Bloomberg Billionaires Index for the primary time since late 2021. It was the primary time in 9 months that Musk had been dethroned, and the primary time that LVMH CEO Bernard Arnault briefly overtook him.
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Tesla Inc.’s inventory value fell once more on Monday, costing Elon Musk his title because the world’s richest individual.
Amazon founder Jeff Bezos on Monday changed the Tesla chief government on the prime of the Bloomberg Billionaires Index for the primary time since late 2021. It was the primary time in 9 months that Musk had been dethroned, and the primary time that LVMH CEO Bernard Arnault briefly overtook him.
As of Monday, Mr. Bezos had a complete web price of $200 billion, greater than Mr. Musk’s $198 billion and Mr. Arnault’s $197 billion, in accordance with the Bloomberg index. According to Bloomberg, Musk’s wealth has decreased by $31 billion for the reason that starting of the yr, whereas Bezos’ wealth has elevated by $23.4 billion.
Bezos regained the highest spot final month regardless of promoting about 50 million Amazon shares price about $8 billion. He nonetheless owns about 9% of the tech large’s shares. Amazon inventory AMZN is up about 17% for the reason that starting of the yr.
Tesla inventory fell greater than 7% on Monday after the EV maker launched new value cuts and reductions within the U.S. and China. Much of Musk’s fortune is in Tesla inventory TSLA, which has fallen about 24% for the reason that starting of the yr. In January, a Delaware decide invalidated Musk’s $56 billion compensation package deal.
In Paris buying and selling, LVMH inventory MC has risen about 15% for the reason that starting of the yr, resulting in France’s Arnault, whose wealth has elevated by $18 billion this yr, in accordance with Bloomberg.