Tesla CEO Elon Musk regained his position Monday as the wealthiest person in America—and second-wealthiest in the world—beating out Amazon founder and chairman Jeff Bezos, who briefly took the spot from Musk a number of times in recent weeks.
Elon Musk overtook Amazon’s Jeff Bezos for the No. 2 spot on Monday after Tesla stock increased more ... [+]
Musk’s fortune was up about $5.5 billion on Monday, helping him surpass Bezos, whose fortune increased about $450 million, according to the Forbes Real-Time Billionaire List.
Forbes estimates Musk to be worth about $194 billion as of early Monday afternoon, and we estimate Bezos to be worth about $193.2 billion.
The wealthiest person on earth is still LVMH’s Bernard Arnault, who was worth an estimated $234.9 billion as of Monday afternoon.
Musk’s return to second-wealthiest comes as Tesla’s stock price increased drastically Monday after news broke of a price bump for its Model Y electric vehicle in some areas, a move that reverses course on previously announced price cuts.
5.59%. That’s how much Tesla stock was up as of 12:30 p.m. EST on Monday, marking the stock’s biggest single-day percentage jump since Nov. 14, 2023, when it rose 6.12%. By comparison, Amazon stock was up just 0.24% on Monday.
Musk fell to Bezos for the third time in March last week when Tesla shares dropped to a fresh 10-month low, falling 4.5% to below $170 after Wells Fargo analysts called Musk’s electric vehicle company a “growth company with no growth.” Tesla stock has struggled since the start of the year, along with some of its other electric vehicle competitors like Rivian, Lucid and Nio, which have been down more than 70% each from their peaks in 2021. Musk owns about 21% of Tesla between stock and options.