Bezos Dethrones Musk to Reclaim Title of World's Richest Man

Amazon founder Jeff Bezos has become the world's richest man, surpassing Tesla chief Elon Musk, according to the Bloomberg Billionaires Index. Bezos' net worth zoomed to $200 billion while that of Musk stood at $198 billion.

Washington, United States: Amazon founder Jeff Bezos took back his spot as the world's richest man on Monday, dethroning Elon Musk on the Bloomberg Billionaires Index.

Bezos' net worth stands at $200 billion, according to the tracker, surpassing the Tesla chief's $198 billion.

Musk, who also heads X (formerly Twitter) and SpaceX, has seen his riches fall by more than $30 billion as Tesla's share price has dropped 25 percent in recent months.

Adding to Musk's woes, a court in January approved the annulment of his enormous Tesla compensation agreement, worth $55.8 billion and originally struck in 2018.

Bezos, who no longer runs Amazon, has meanwhile benefited from the ecommerce giant's rising stock price.

Even after recently selling off $8.5 billion in stocks he remains the company's largest shareholder.

Chart showing the world's richest people as of March 5, according to the Bloomberg Billionaires Index. (AFP)

The French CEO of the luxury group LVMH, Bernard Arnault, remains in third place in the rankings of the world's richest people, worth $197 billion. (AFP)