Jeff Bezos Assume Top Spot on Billionaire List as Tesla Shares Slide by 2.4% – World News

With Tesla Inc shares falling 2.4 percent on Tuesday, $ 4.6 billion was wiped out of the fortune of the company’s chief executive, Elon Musk, which dethroned him from first place in the market. Bloomberg Billionaires Index classification. With this brief reign of Musk at the top of the billionaire’s list ended.

According to a report by Bloomberg, the top spot was again claimed by Jeff Bezos, who had held the title for more than three years until last month. Bezos regained the number one position with a net worth of $ 191.2 billion, which is more than $ 955 million than Musk’s entire fortune.

Bill Gates ranks third on the billionaire’s list, while Bernard Arnault and Mark Zuckerberg rank fourth and fifth respectively.

The report added that Musk’s downfall comes after six weeks as the world’s richest person, during which he “fanned the flames” of Reddit-powered GameStop Corporation and shipped the shares of Etsy Inc, Shopify Inc, CD Projekt SA and Signal Advance Inc on the rise with their tweets.

Tesla hit a market value of $ 700 billion for the first time in January, so it’s worth more than Toyota, Volkswagen, Hyundai, GM, and Ford combined. Musk saw his fortune increase over the past year, surpassing Bill Gates to become the world’s second-richest person in November, a week after surpassing Mark Zuckerberg, Facebook’s CEO.

Meanwhile, although Elon Musk‘s Tesla registered a subsidiary in Bengaluru in early January, confusion reigns even after Karnataka’s chief minister BS Yediyurappa issued a statement confirming the former’s entry into India, and the company kept quiet about its plans.