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Musk saw his net worth slide by $3.9 billion on Tuesday as Tesla shares closed at $796.22, down more than 2.4%. The 49-year-old entrepreneur surpassed Bezos in January to become the richest person in the world, on the back of Tesla’s surging share price and his generous pay package.
Musk gave back the title of world’s richest person to Bezos just as quickly as he rose in the rankings. Until last month, Bezos had been the richest man since 2017.
The Amazon founder’s personal wealth, which is mostly in Amazon stock, has skyrocketed in recent years along with the company’s share price. Bezos has continued to notch new wealth milestones. Last August, he became the first person to see their net worth surge above $200 billion and in 2018 he became the world’s richest man in recent history when his personal wealth climbed above $150 billion.
Bezos once again became the world’s richest person as he prepares to leave his post later this year. Earlier this month, Bezos announced he would turn the helm over to Amazon’s top cloud boss Andy Jassy. Bezos is expected to still keep an eye on the company he founded, but he will have more time to focus on other projects, including his Blue Origin rocket company and The Washington Post, as well as philanthropic ventures the Bezos Earth Fund and the Amazon Day 1 Fund.