Amazon’s founder, Jeff Bezos, is on the brink of reclaiming the title of the world’s richest person, coming within $8 billion of Elon Musk’s fortune of $205 billion, according to Bloomberg. This shift is due to a significant increase in Amazon’s stock and a loss for Tesla this year. Bezos’ net worth has increased by a staggering $20 billion in 2022, primarily resulting from a 13% rise in Amazon’s stock, bringing his estimated total fortune to $197 billion. In contrast, Musk’s wealth has decreased by $24 billion, largely due to a 24% plunge in Tesla’s stock. The possibility of Bezos surpassing Musk is becoming increasingly likely, especially if Amazon’s stock continues to rise or Tesla’s fortunes continue to dwindle.
Bezos, who owns nearly 10% of Amazon with 988 million shares, saw a significant increase in his net worth following the surge in Amazon stock. Meanwhile, Musk’s fortune is closely tied to Tesla and its plunging stock, despite his significant stakes in other companies such as SpaceX and Twitter.
The release of Big Tech earnings has reshaped the Bloomberg rich list, boosting the net worth of tech giants such as Mark Zuckerberg and Warren Buffett. Zuckerberg’s fortune skyrocketed by $28 billion to $170 billion following a 20% surge in Meta stock, while Buffett has climbed into seventh place above Oracle co-founder Larry Ellison and the “Google Guys” Larry Page and Sergey Brin.
Buffett’s Berkshire Hathaway stock has seen a 9% increase this year, contributing to a $10 billion increase in his wealth, while Ellison, Page, and Brin have experienced more modest gains. These shifts highlight the volatility of net worth in relation to stock performance and economic outlook.
It’s noteworthy that Musk’s net worth has experienced a significant rollercoaster ride, peaking at about $340 billion in late 2021 and dropping to roughly $200 billion today. Despite this, Tesla stock has seen substantial growth since 2020, and Amazon shares have also seen significant increases. The intricate dance of stock performance, billionaire net worth, and industry intrigue continues to capture global attention.