Jeff Bezos Dethrones Elon Musk To Become World's Richest Person...Again
By Favour Adegoke on March 5, 2024 at 5:40 PM EST
Amazon founder Jeff Bezos has surpassed Tesla founder and fellow billionaire Elon Musk to regain his position as the world's richest person for the first time in three years.
This comes after it was revealed that Bezos had sold $4 billion worth of shares since mid-February. Now, his net worth sits at $200 billion, while Musk's is at $198 billion.
Jeff Bezos Becomes The World's Richest Person For The First Time In Three Years
According to Bloomberg's calculations, the founder of Amazon is the richest person in the world, with a $200 billion net worth as of Monday's closing bell. The majority of this wealth is derived from his 9% ownership position in the massive e-commerce company.
On the other hand, Musk's net worth stood at $198 billion, while LVMH's French billionaire Bernard Arnault completed the top three with $197 billion.
Last month, Bezos began selling off his stock in his own company, which he founded in 1994 and initially operated out of his Seattle garage. The company's shares have since increased by over 19% since then.
In 2021, Bezos resigned as CEO of Amazon, with Executive Chairman being his current title. According to reports, he has sold off approximately 25 million shares of the corporation in only one week. Since stepping down as CEO, these are the first shares he has sold.
Bezos revealed earlier this month that he planned to sell 50 million of his Amazon shares through Morgan Stanley, a brokerage firm, by 2025. The 60-year-old continues to have the largest stake in the company despite the sales, holding about 10% of the company's stock.
Since he stepped down as CEO of Amazon, Bezos has turned his attention to his other endeavors such as his philanthropic work and the rocket startup Blue Origin. He has also been spending a lot of time with his partner Lauren Sanchez, whom he recently proposed to.
Jeff Bezos Is Spending A Lot Of Time With His Fiancée Lauren Sanchez
Last year, the power couple had their high-end engagement party at Barry Diller and Diane von Furstenberg’s Beverly Hills home.
According to Vogue magazine, big Hollywood stars like Barbra Streisand, Kris Jenner, Oprah Winfrey, Salma Hayek Pinault, Sarah Staudinger, Miranda Kerr, Robert Pattinson, Suki Waterhouse, and more were among the names that graced the stunning event.
“They’re very in love with each other—they’re demonstrably in love,” Diller, who played host for the evening alongside von Furstenberg, told the publication in an interview. “She’s lit him up in the nicest ways. She’s a great stimulant.”
Bezos and his fiancée previously hosted an engagement party on his yacht at sea, where guests included Queen Rania of Jordan, Bill Gates, and Oscar Award-winning actor Leonardo DiCaprio.
Laurent Sanchez Says She And The Billionaire Are A 'Team'
During Sanchez's interview with Vogue, the media personality noted that she and Bezos are already making plans for a wedding.
“We’re still thinking about the wedding,” Sanchez said, adding, “what it’s going to be. Is it going to be big? Is it going to be overseas? We don’t know yet. We’ve only been engaged five months!”
The 54-year-old went on to recount how the billionaire proposed to her at sea by hiding the ring under her pillow after a romantic dinner. Sanchez found the ring at bedtime and said she “blacked out a bit” when Bezos opened the box.
When asked if she plans on taking her fiancé's last name name, she said, “Uh, yes, one hundred percent. I am looking forward to being Mrs. Bezos.”
She also talked about the duties that come with being the world's richest man's partner and stressed the importance of mutual cooperation in their union.
"I think there are a lot of opportunities that come with that, and I take those opportunities very seriously,” Sanches told the publication. “We always look at each other and go, ‘We’re the team.’ So everything’s shared.”
