Jeff Bezos Overtakes Elon Musk as Richest Person in the World

Jeff Bezos has overtaken Elon Musk as the world’s richest person, reclaiming his title and ending Musk’s short-lived reign with the title.

Musk, who surged to the top of the list in January after Tesla’s (TSLA) stock was booming, was knocked back into second place on the Bloomberg Billionaires Index list as of Feb. 16. Musk lost around $4.5 billion as Tesla lost about 2.4% of their shares, CNN Business reported.

Jeff Bezos has reclaimed his title of world's richest person, ending Elon Musk's roughly six-week reign atop the list. https://t.co/jadvQkaYco

— CNN (@CNN) February 17, 2021

In 2020, the 170 million shares of Telsa that Musk previously owned increased in value by $106 billion as stock market shares rose by 743%.

In addition, in Jan. 2021, Musk tweeted out a popular link to a Reddit page, which was generating excitement over GameStop (GME) stocks. Musk appeared to be cheering on Reddit users who were purchasing numerous GameStop stocks over Wall Street brokers.