Jeff Bezos has returned to the top as the world’s richest man for the first time in three years, as his wealth amounts to $200 billion and former number one, Elon Musk, saw his complete stumble.
Bezos, 60, topped the recent Bloomberg Billionaires Index for the first time since fall 2021, surpassing Musk, who now has $198 billion.
It comes after the Amazon founder sold a total of $4 billion in shares since mid-February, regulatory filings revealed.
At the same time, Tesla CEO and X chairman Musk, 52, saw a judge govern at the end of January that he must return the largest pay package in corporate history, at $55 billion, following the CEO’s accusations of pressuring Tesla directors.
Bezos’ stock sale comes after it was revealed that he will establish his primary residence in Florida, taking advantage of the Sunshine State’s tax system.
Jeff Bezos has returned to the top of the list of the world’s richest people for the first time in three years, as his generosity reaches $200 billion and the wealth of former number one Elon Musk falters. Bezos appears in the photo sharing the red carpet with Lauren Sánchez.
Bezos, 60, topped the Bloomberg Billionaires Index for the first time since fall 2021, surpassing Tesla founder Elon Musk, who now has $198 billion.
Bezos stepped down as CEO of Amazon in 2021. His current title is CEO. In the space of a week, he dumped nearly 25 million shares of the company. These are the first shares he has sold since he stepped down as CEO.
Earlier this month, Bezos said he would sell 50 million of his Amazon shares by 2025 through brokerage firm Morgan Stanley.
Despite the sales, Bezos remains Amazon’s largest shareholder, owning about 10 percent of the company’s shares.
Since February 2023, Amazon shares have soared more than 50 percent and its price is approaching an all-time high. Its market capitalization is around $1.75 trillion.
Bezos stepped away from Amazon to devote more time to his other projects, including rocket company Blue Origin and his philanthropy.
Bezos has also spent time out and about with his fiancée Lauren Sanchez, as the two have been photographed in numerous hot spots.
While it’s unclear exactly when they started dating, Lauren and Jeff’s romance was first exposed by the National Enquirer in January 2019, while they were both married to other people.
Shortly after it was revealed, the billionaire Amazon founder, 59, divorced his wife of more than 25 years and mother of his four children, Mackenzie Scott, while Lauren left her husband, the agency’s co-founder of Endeavor talents, Patrick Whitesell.
They got engaged in early 2023, and Lauren spoke to Vogue about the moment Jeff asked her to marry him last month.
She recalled how Jeff popped the question on his yacht after enjoying a romantic dinner together under the stars.
She said the tycoon hid the huge diamond ring under his pillow and almost “fainted” when he discovered it at the end of the night, just before going to bed.
When asked about their upcoming nuptials, Lauren admitted that they were still in the early stages of wedding planning, so they didn’t have much figured out yet.
‘We’re still thinking about the wedding and what it’s going to be like. Will it be big? Will it be abroad? We don’t know yet,” she commented.
And Jeff made it clear he was leaving it up to him, telling the outlet when asked if he was going to be heavily involved in the planning: “Oh, God, no.” Do I look so stupid?’
As for whether or not Lauren will take her future husband’s last name, she admitted, “Uh, yeah, 100 percent.” “I really want to be Mrs. Bezos.”
It comes after the Amazon founder sold a total of $4 billion in shares since mid-February, regulatory filings revealed.
Bezos’ stock sale comes after it was revealed that he will establish his primary residence in Florida, taking advantage of the Sunshine State’s tax system.
At the same time, Tesla CEO and X chairman Musk, 52, watched a judge rule in late January that he must return the largest pay package in corporate history following allegations that the CEO was putting pressure on Tesla directors.
Musk, now in second place, must repay the largest pay package in corporate history after a judge ruled that he forced Tesla directors to award him $55 billion.
Musk, now in second place, must repay the largest pay package in corporate history after a judge ruled that he forced Tesla directors to award him $55 billion.
The ruling by a Delaware court comes five years after a lawsuit filed by shareholder Richard Tornetta took aim at Musk and the directors of the electric car company he founded.
Chancery Court Judge Kathleen McCormick determined in her ruling that the process that led to the board’s approval of his 2018 compensation package was “deeply flawed.”
Musk had “extensive ties to people charged with dealing on Tesla’s behalf,” he found, including general counsel Todd Maron, who was his “former divorce lawyer.”
Musk immediately reacted to the ruling on his social media platform X, formerly Twitter, tweeting: “Never incorporate your company in the state of Delaware.”
“I recommend incorporating in Nevada or Texas if you prefer to let shareholders decide matters.”
Defense attorneys said the pay plan was negotiated fairly by a committee of independent directors, contained important performance milestones and was blessed by a shareholder vote that wasn’t even necessary.
McCormick ordered directors to go back to the drawing board in a bid to come up with a pay package suitable for the world’s richest man.
“The parties should agree to a form of final order implementing this decision and submit a joint letter identifying all issues, including fees, that must be addressed to bring this matter to a trial-level conclusion,” he wrote.
Musk owns 13 percent of Tesla shares, but announced a bid earlier this month to secure a quarter of its voting shares.
“I feel uncomfortable making Tesla the leader in AI and robotics without having ~25% voting control,” he wrote on X.
Third on the Bloomberg Billionaires Index list is Bernard Arnault, CEO of LVMH, with $197 billion.
Mark Zuckerberg (pictured right) and Bill Gates, with $179 billion and $150 billion, respectively, close the top five.
“Enough to be influential, but not so much that they can’t overthrow me.”
Tesla shares fell about 3 percent following the ruling.
Third on the Bloomberg Billionaires Index list is Bernard Arnault, CEO of LVMH, with $197 billion.
They are followed by Mark Zuckerberg and Bill Gates, who amount to $179 billion and $150 billion, respectively.
Steve Ballmer, Warren Buffet, Larry Ellison, Larry Page and Sergey Brin round out the top ten.
L’Oréal Vice President Françoise Bettencourt Meyers is the richest woman in the world, ranking 15th on the list with $97.1 billion.