Elon Musk regains title of America’s wealthiest person, surpassing Jeff Bezos

Elon Musk has reclaimed his title as the richest person in the United States, surpassing Amazon’s Jeff Bezos.

According to the Forbes Real-Time Billionaire Index, Musk’s fortune increased by about $5.5 billion on Monday, putting him ahead of Bezos, whose wealth increased by about $450 million.

Musk’s current net worth is around $194.2 billion, slightly more than Bezos’ estimated $192.8 billion.

However, Bernard Arnault, the chairman and CEO of LVMH, remains the world’s wealthiest individual, with an estimated fortune of $234.8 billion.

Tesla Stock Surge Propels Musk’s Resurgence

Musk’s return as the second-wealthiest person was accompanied by a significant increase in Tesla’s stock price on Monday.

The surge came after Tesla announced a price increase for its Model Y electric vehicle in certain regions, reversing previous price cuts.

Tesla’s stock increased by 5.59% on Monday, its largest single-day percentage gain since November 14, 2023, while Amazon’s stock rose by only 0.24%.

Background: Musk vs. Bezos

Musk briefly gave up the title of wealthiest person to Bezos last week after Tesla shares fell to a 10-month low.

The decline occurred amid Tesla’s challenges, which included analysts describing the company as a “growth company with no growth” and struggles in the electric vehicle sector.

Despite these obstacles, Musk and Bezos continue to compete for the top spot, demonstrating the volatility and competitiveness of the tech industry.