Amazon CEO Jeff Bezos reclaimed his lost title as the world's richest person after he knocked Tesla chief Elon Musk from the top spot on the Bloomberg Billionaires Index ranking.
Tesla's shares fell 2.4 per cent on Tuesday, February 16, wiping out $4.6 billion from Musk's fortune. Meanwhile, Bezos, who had held the title for over three years until last month, regained his number one position with a net wealth of $191.2 billion, or $955 million more than Tesla's CEO.
Musk had briefly taken over the Amazon chief in January as the world's richest person, thanks to Tesla's soaring share price.
However, his reign was brief as Bezos bagged the title back quickly to climb the rankings. Musk's almost six-week stint as the world's richest person drop ends, for now.
The Tesla CEO has been at the front and center of some of the biggest market events so far this year. The eccentric billionaire fanned the flames of GameStop Corp share rally and sent the stocks of Shopify Inc., Signal Advance Inc., Etsy Inc., and CD Projekt SA rolling with his booster shot tweets.
He also stirred up the price of Bitcoin and even Dogecoin, a little-known cryptocurrency that surged after his tweet earlier this month.
Meanwhile, Bitcoin raced past $50,000 days after Tesla disclosed that it had bought $1.5 billion worth of the cryptocurrency.
However, despite Musk's apparently persistent social media presence, Tesla's shares have dipped almost 10 per cent from January 26 peak.