Jeff Bezos became the richest person again (for a while)

🏆️ #1, but not for long

The title of world's richest person title has been awarded to a familiar face this week.

Elon Musk, the CEO of Tesla and SpaceX, had held the top spot for a while, but on March 8th, Jeff Bezos, the founder of Amazon, briefly overtook him.

• According to the Bloomberg Billionaires Index, Bezos' net worth reached $200 billion, surpassing Musk's $198 billion.

This came after Tesla shares had dropped 7%, while Amazon's stock price had been steadily rising.

However, Musk's lead wasn't lost for long. Tesla share prices recovered somewhat, and Musk regained his title as the world's richest person.

📈 A big share

Bezos' gain came from Amazon's strong performance. The company's stock price has nearly doubled since late 2022 and is nearing an all-time high.

• This growth is due to continued strong online sales, which was at its strongest growth since the pandemic. In contrast, Tesla's stock has fallen considerably from its peak in 2021.

Even after selling off a $8.5 billion of his shares, Bezos remains Amazon's largest shareholder and continues to benefit its wins.

While Musk may have regained the lead for now, the race to become the world's first trillionaire continues.