According to the Bloomberg Billionaires Index, Jeff Bezos, the mastermind behind Amazon, has ascended to the position of the world's wealthiest businessman, overtaking Tesla and SpaceX's founder, Elon Musk. So, Amazon's founder has once again clinched the top spot in the ranking. Despite his fortune dipping by $500 million over a single day, it surged by $23.4 billion over the past year, reaching a monumental $200 billion. Consequently, Bezos secured first place, with Musk trailing to second as his wealth diminished to $198 billion. Recently, the head of Tesla and SpaceX saw a decline of $17.6 billion in his net fortune, with an annual loss reaching $31.3 billion. Bernard Arnault, the magnate behind the French conglomerate LVMH, is positioned third among the world's wealthiest people, boasting a net worth of $197 billion. His wealth has grown by $18.3 billion over the last year, with a recent increase of $1.84 billion. Analysts have noted a string of setbacks for the electric car manufacturer Tesla in recent times. For two consecutive years, Musk has been at the helm of the list of the most overrated CEOs. A majority of his fellow CEOs cited his "aggressive goals" and "otherworldly ambitions" as noteworthy characteristics. In February 2024, Tesla conceded the title of the most valuable car brand to Mercedes-Benz. According to Brand Finance, an international analytical agency, the leading German brand's value increased by 1%, reaching $59.4 billion. Meanwhile, the American brand experienced a 12% depreciation, falling to $58.3 billion.
