Tesla founder, Elon Musk, has again overtaken Amazon’s Jeff Bezos, to become the wealthiest person in America.
This comes a few weeks after Bezos held the top spot.
Musk’s fortune increased by approximately $5.5 billion on Monday, propelling him ahead of Bezos, whose wealth grew by about $450 million, according to the Forbes Real-Time Billionaire Index.
Musk’s net stands at around $194.2 billion, slightly higher than Bezos’ estimated $ 192.8 billion, at the time of this report.
However, the wealthiest individual globally remains LVMH’s Bernard Arnault, with an estimated fortune of $234.8 billion as of Tuesday morning. Musk is currently the top gainer of Monday’s stock trade on Forbes.
Musk’s resurgence as the second-wealthiest person comes as Tesla’s stock price experienced a significant increase on Monday.
The surge followed news of a price hike for Tesla’s Model Y electric vehicle in certain regions, reversing previous announcements of price cuts.
Tesla’s stock rose by 5.59% as of 12:30 p.m. EST on Monday, marking its largest single-day percentage gain since November 14, 2023, when it increased by 6.12%. In contrast, Amazon’s stock saw a modest uptick of just 0.24% on the same day.
Last week, Musk briefly ceded the title of wealthiest person to Bezos after Tesla shares plummeted to a 10-month low, dropping by 4.5% to below $170. The decline came after analysts characterized Musk’s electric vehicle company as a “growth company with no growth.”
