Jeff Bezos on Monday saw the value of his personal fortune surpass LVMH CEO Bernard Arnault's, according to Bloomberg.
The net worth of the Amazon founder hit $156.3 billion Monday afternoon, boosting Bezos from third to second richest on the outlet’s global ranking of billionaires. Tesla and SpaceX CEO Elon Musk still held the top spot at $234 billion, Bloomberg reported.
Shares of Amazon have increased over 50% from the beginning of 2023, which helped Bezos move up Bloomberg’s list, according to the outlet.
His holdings of Amazon common stock as of Feb. 22 came in around 12.3%, according to the e-commerce giant’s most recent proxy statement.
Billionaire American businessman Jeff Bezos arrives for a meeting with British Prime Minister Boris Johnson at the U.K. diplomatic residence in New York City, Sept. 20, 2021. (Michael M. Santiago/Pool via REUTERS / Reuters Photos)
So far in 2023, Bezos has gained $49.3 billion in net worth, Bloomberg reported.
The title of world’s second-richest person prior to Bezos' rise belonged to Arnault.
The change in ranking stemmed from LVMH’s recent quarterly performance and a $6.8 billion drop in Arnault's net worth, according to the outlet.
Fendi, Louis Vuitton, Tag Heuer, Christian Dior and other brands fall under the LVMH umbrella. The luxury goods company posted a market capitalization of $351.89 billion as of Tuesday.
Bernard Arnault, CEO of LVMH, and Delphine Arnault, executive vice president of Louis Vuitton, leave after the Spring/Summer 2020 collection show for fashion house Louis Vuitton during Men's Fashion Week in Paris June 20, 2019. (REUTERS/Charles Platiau/Files / Reuters Photos)
Bloomberg on Monday afternoon estimated the LVMH CEO’s value as $155.1 billion.
With their personal fortunes within $1.2 billion of one another, day-to-day movement in Amazon and LMVH stock prices could lead to more changes in the rankings.
On Forbes’ real-time billionaires list, Bernard remained well above Bezos in net worth. He was valued at $174.8 billion as of Tuesday afternoon, $20.5 billion higher than the $154.3 billion estimated for Bezos, according to the magazine.
The other two individuals in Bloomberg’s top five were Microsoft co-founder Bill Gates at $125 billion and Google co-founder Larry Page at $123 billion.