Bezos Overtakes Arnault as 2nd Richest, Behind Musk

Amazon founder Jeff Bezos has surpassed French luxury goods tycoon Bernard Arnault to become the world’s second-richest person, trailing behind Elon Musk. The shift in rankings occurred on Monday as LVMH’s shares declined, and Amazon’s shares saw a slight increase. Throughout the day, Bezos and Arnault traded positions for the title of second-wealthiest person.

As of just after 4 p.m. EDT on Monday, Bezos’ net worth stood at approximately $204.3 billion, marking an increase of about $2.4 billion for the day, according to the Real-Time Billionaires List. Meanwhile, Arnault, who oversees the LVMH empire of luxury fashion and cosmetics brands like Louis Vuitton and Sephora, was slightly behind Bezos with a net worth of $203.9 billion, down $4.3 billion as of 4 p.m.

The fluctuation in rankings was driven by a 2.21% decline in LVMH’s shares at market close on Monday, while Amazon’s shares rose by 1.5%, contributing to a slight increase in Bezos’ net worth.

Elon Musk, the CEO of Tesla, currently holds the title of the world’s wealthiest person, with a net worth of $207.8 billion as of Monday afternoon.

Looking ahead, observers are keen to see how Bezos and Arnault continue to vie for position throughout the day. As of 4 p.m., the two had already swapped the No. 2 and No. 3 spots at least four times.

Recent weeks have witnessed several changes at the top of the billionaires tracker. Prior to Bezos surpassing Arnault, Musk and Arnault were competing for the title of the world’s wealthiest person. Amazon’s stock has risen by more than 6% over the last three months, while Tesla’s has increased by only 0.39%, and LVMH’s has fallen by 12.99% over the same period. Musk’s fortune has fluctuated this year due to Tesla’s stock struggles. However, Musk could solidify his position as the wealthiest person if Tesla shareholders vote to reinstate his $50 billion pay package on Thursday, which would increase his equity in Tesla from 13% to 22%.

Earlier this year, Bezos and Musk were engaged in a back-and-forth battle for the position of second-wealthiest person in the world and the wealthiest in the U.S. In March, the pair swapped positions 13 times, with Musk previously holding the title of the richest person in the U.S. for more than two years.