The Amazon founder was last number one in the wealth ranking in 2021. 

Amazon founder Jeff Bezos replaced Tesla chief executive and X owner Elon Musk as per Bloomberg’s Billionaires Index on Monday for the first time since late 2021. 

According to Bloomberg’s index, Bezos’s total net worth as of the new month was $200 billion, topping Musk’s $198 billion and CEO of LVMH Bernard Arnault’s $197 billion. 

The move marks the first time Musk lost the top spot in nine months when the French tycoon Arnault shortly overtook him earlier last month. 

Tesla shares fell on Monday after initial data showed shipments from a factory in Shanghai slumped to the lowest in more than a year, whereas Amazon is coming off its best online sales growth since the 2021 global pandemic.  

As Amazon’s largest shareholder, Bezos’s fortune comes from his 9% stake in the company. 

At one point, the wealth gap between Musk and Bezos was $142 billion. 

Musk retains 411 million shares and about 304 million Tesla options, totalling about $127 billion, the majority of his wealth, while his other capital is profited through his other companies like Space X and X and The Boring Company. 

By buying X, formally known as Twitter, in 2022, Musk leveraged his prominent share in Tesla and relied on investors rather than his liquid sums.

In January, the South African tycoon was cut from a record-breaking compensation package as a US judge tossed out his $56 billion Tesla pay package. 

As per Reuters, the judge found the share-based compensation was negotiated by directors who appeared indebted to Musk. 

If made, it would have been the largest pay package in corporate America.