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Amazon's Jeff Bezos surpasses $200 billion web price, topping Tesla's Musk – FOX 6 Milwaukee

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Jeff Bezos’ private wealth surpassed the $200 billion threshold this week, putting the Amazon CEO firmly forward of Tesla CEO Elon Musk of their ongoing battle for the title of world’s richest individual.

Bezos’ web price was $202.3 billion as of Friday, based on Forbes’ calculations. French businessman Bernard Arnault was the world’s second-richest individual with a web price of $182.8 billion, whereas Musk ranked third with a private web price of $172.5 billion.

The Amazon founder had beforehand surpassed the $200 billion threshold final August as pandemic-induced shopping for drove the e-commerce large’s inventory to new highs. Bezos is Amazon’s largest particular person shareholder.

The most recent surge in Bezos’ web price occurred after Amazon posted robust first-quarter earnings. The corporate’s gross sales surged 44% to greater than $108 billion, surpassing inner expectations. Bezos is anticipated to step down as Amazon CEO later this 12 months.

Amazon shares are up greater than 9% up to now this 12 months. The corporate’s steep share worth has prompted hypothesis that executives might quickly institute a inventory cut up to decrease the barrier of entry for traders.

Bezos and Musk have jockeyed for the highest place on Forbes’ billionaires’ listing for months. The Tesla founder ranked because the world’s richest individual as not too long ago as late final month.

The 2 billionaires have additionally established a rivalry within the aerospace trade, the place Bezos’ Blue Origin and Musk’s SpaceX have emerged as main personal house exploration companies.

Earlier this month, Musk poked enjoyable at Bezos after Bue Origin protested NASA’s determination to award a profitable lunar lander contract to SpaceX.

Learn extra at FOXBusiness.com.



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