Elon Musk can no longer claim the title of the world's wealthiest individual, as indicated by the Bloomberg Billionaires Index on Tuesday. Jeff Bezos has repossessed the position of the wealthiest man in the world.
Musk's drop from the top occurred after Tesla's shares plunged 7.2% on Monday. Tesla’s stock value declined after reports indicating that shipments from its Shanghai factory have fallen to their lowest level since December 2022, as reported by Bloomberg.
This marks the first time in nine months that Musk has not been at the top of the global wealth ranking, and it is the first instance since 2021 that Bezos has led the list.
Furthermore, CNN, citing Oxfam, reported that the net worth of the world's five richest individuals has increased by 114% since 2020.