Jeff Bezos overtakes Elon Musk to reclaim spot as World’s Richest Person

On Tuesday, 16th February, Jeff Bezos overtook Elon Musk to reclaim the title of world’s richest person. According to real-time data from Forbes, the Amazon CEO overtook Elon after shares of Tesla slid more than 2.4%. Elon Musk's net worth slid by $3.9 billion on Tuesday as Tesla shares closed at $796.22, thus his current net worth is about $173.4 billion. Meanwhile, Jeff Bezos has a net worth of about $190.3 billion.

The Tesla CEO had earlier surpassed Bezos in January to become the richest person in the world. This happened when Amazon stocks fell by 1.2% giving the Tesla CEO the lead.

How strange

— Elon Musk (@elonmusk) January 7, 2021

The news comes as no surprise to stock market pundits, as the Amazon CEO has gradually been closing in on Elon Musk since Elon became the world's richest man. Jeff Bezos' major source of income is Amazon. Amazon is an online retail company that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. Its stock prices have continued to soar in recent years putting the 57-year-old billionaire at the top of the list since 2018.

Image credit: Forbes.com

However, Jeff Bezos had also released a statement earlier this month stating that he would be stepping down as Amazon CEO to hand over to Andy Jassy in the third quarter of 2021. Although Bezos said he will still be engaged in important Amazon projects, his stepping down will give him the time and energy he needs to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and his other passions.