The Amazon chief executive, Jeff Bezos, on Wednesday displaced Tesla CEO Elon Musk as the world’s richest person.

He ended Mr Musk’s nearly two months reign as the richest.

In November, 2020, Mr Musk beat Bill Gates to become the second-richest person in the world.

The Bloomberg Billionaires Index ranking shows that Mr Musk lost about $4.5 billion Tuesday after Tesla shares fell 2.4 per cent.

However, Mr Bezos’ net worth also fell as the broader stock market became less strong, yet his loss was minimal, only taking a hit of about $372 million.

Notwithstanding this fall, it assisted him to recapture his title that he held for close to three years.

Currently, Mr Bezos is worth $191 billion when compared to Mr Musk’s $190 billion.

According to CNN, “the 170 million shares of Tesla he already owns increased in value by $106 billion during 2020, as shares shot up 743 percent during the course of the year”.

“Bezos had a rather robust 2020, too”, the CNN reports.

ALSO READ: Amazon CEO Jeff Bezos is first-ever person to amass $200 billion net worth

Despite the pandemic, Mr Bezos’ ownership in the firm increased by $75 billion in 2020, to $173.3 billion, which resulted in a massive rise in sales.

He announced he’s stepping down from his CEO role but will become executive chair of Amazon’s board in the third quater of 2021.

Bill Gates retained his position as the world’s third-richest person with worth of $137 billion.


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