Bloomberg has updated its global billionaire index and revealed that Tesla, SpaceX, and X CEO Elon Musk has been dethroned as the richest person in the world. The man to dethrone him? Amazon CEO and founder Jeff Bezos.

Bloomberg viewed the profiles of each of the world's 500 richest people in the world to come up with the ranking, which the financial media outlet describes as "a daily ranking of the world's richest people." It noted that their calculations "are provided in the net worth analysis on each billionaire's profile page. The figures are updated at the close of every trading day in New York."

On Monday, Jeff Bezos topped the list as he is listed to be worth $200 billion and around $2 million richer than his rival, Elon Musk, who was listed at $198 billion. Luxury goods mogul Bernard Arnault, who also used to be the richest man in the world, rounded out the Top 3 for Monday as he was listed to be worth around $197 billion.

Elon Musk's number 1 rival, Mark Zuckerberg, whom he constantly feuds with, is listed at $179 billion, with Bloomberg listing him as the fourth richest person in the world. Meanwhile, the former richest man in the world, Bill Gates, is in 5th place with a net worth of $150 million.

Meanwhile, Mexico's Carlos Slim made it to the Top 20, as he is listed at #14, with a net worth of $103 million.

Jeff Bezos, Elon Musk, Bernard Arnault Competing Over 'Richest Person in the World' Title for Months

The top 3 in the "Richest Person in the World" list have constantly been trying to dethrone one another for months. Musk reclaimed the title last year as he overthrew LVMH (LVMHF) CEO Bernard Arnault, who runs one of the world's biggest conglomerates and includes brands such as Louis Vuitton, Dior, and Celine, for the title. Now, Bezos once again has the title.

CNN noted that Bezos has gained $23 billion, while the #2-ranked Musk has lost about $31 billion over the past year. The share prices for Tesla also tumbled by over 7%, contributing to Bezos overtaking the social media and car manufacturing CEO.

Musk also suffered from a Delaware state court judge's decision earlier this year to throw out Musk's 2018 pay package that was worth over $50 billion. That money was one of the reasons he is currently one of the richest people in the world.

Big Tech Rally Propelled Jeff Bezos to Become Richest Person in the World

While Musk stumbled, Heff Bezos quietly earned more money than him, and this is all thanks to a massive rally in Big Tech shares, including Amazon.

Yahoo! News noted that it has been over two years since Bezos was dethroned as the richest person in the world. His big win came as the artificial intelligence boom helped give Big Tech shares a sustained rally. Thanks to that, Amazon shares are up 17% this year to date and nearly 90% higher than a year ago.

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Written by: Rick Martin

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