Jeff Bezos, the CEO and founder of Amazon, is no longer the richest man in the world, a report from Bloomberg Business revealed this week. Jeff used to be at the top of the list due to his controlling stake in Amazon, a company that has easily become one of the most successful in recent times.
Bloomberg Business announced earlier this week that Tesla shares were up 5% in value, increasing Musk’s stock options from $ 9.3 billion to $ 190 billion. Bezos, on the other hand, saw his shares rise 2%, up $ 2.7 billion for a total of $ 187 billion.
Bill Gates isn’t far behind either. Mr. Gates has net worth of $ 132 billion through his company Microsoft. Bloomberg’s real-time billionaire tracker still has Bezos on Musk, but a news report from the company is about to change.
Reportedly, the Amazon CEO saw his stock fall in value on the news surrounding the U.S. Senate, now under Democratic control. The theory is that now that the Democrats control the Senate, companies like Amazon and Apple will face closer scrutiny.
As an aside, Elon Musk is also the major shareholder and CEO of Space X, a privately held company that doesn’t experience the same market volatility as Tesla. Bezos, on the other hand, has continued to do well amid the coronavirus pandemic.
Bloomberg reported that Bezos’ shares rose $ 75 billion in the wake of the coronavirus pandemic, bringing the value of his company to $ 173.3 billion. Tesla also saw a dramatic increase in 2020. The company’s value rose by $ 106 billion.
According to multiple reports, Musk never sold or divested its Tesla shares, while Bezos did so through various nonprofits and other giveaways.
Right now, Mr. Musk is on his way to becoming more valuable than the largest American oil company ExxonMobil, valued at $ 192 billion. However, many financial experts have argued that Tesla’s stock is massively overvalued due to the hype surrounding its brand.