Elon Musk Loses $7.6 Billion as Jeff Bezos Reclaims Richest Man Tag
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Tesla CEO Elon Musk lost a whopping $7.6 billion from his wealth valuation at the end of trading sessions on Monday
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Musk’s wealth fall has pushed Amazon Chairman Jeff Bezos to become the richest man in the world, with a net worth of $192 billion according to Bloomberg
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Elon Musk comes in second, with a net worth of $187 billion, while French fashion king, Bernard Arnault valued at $177 billion comes in at third
Amazon founder Jeff Bezos has reclaimed the spot as the richest man in the world just a week after losing it to Elon Musk, following slight gains at the end of Monday trading sessions.
Jeff Bezos gained $282 million in value from the world’s biggest eCommerce company and is currently worth $192 billion.
Amazon shares have skyrocketed since the start of the pandemic due to more consumers willing to buy goods online and avoid physical contact.
Since January 2020, the shares of the company have gone up by 75% increase the chairman’s wealth through his 11% stake.
Bezos reclaiming his wealth has little to do with him gaining $282 million, rather it is more about Elin Musk losing.
The Tesla and SpaceX CEO’s wealth plummeted by $7.6 billion following a drop in the value of Tesla shares on Monday.
Tesla shares fell by 4% after Automobile safety officials launched an investigation into the company after some accidents from its Autopilot vehicles.
At the moment, Elon Musk is worth $187 billion, according to Bloomberg billionaire’s index.
The two American billionaires are followed by French fashion tycoon Bernard Arnault who is valued at $177 billion.
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