Bezos dethrones Musk to reclaim title of world's richest man

Washington: 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.

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.

Meta co-founder and CEO Mark Zuckerberg comes in at 4th place at $179 billion as of March 5.

At 5th place is Microsoft founder Bill Gates at $150 billion.

Clockwise from left: Rounding up the top 10 are former Microsoft CEO Steve Ballmer ($143b), Berkshire Hathaway CEO Warren Buffett ($133b), Oracle founder Larry Ellison($129b), and Google co-founders Larry Page ($122b) & Sergey Brin ($116b).

Asia's richest men Mukesh Ambani ($115b) and Gautam Adani ($104b) are 11th and 12th on the global richest list. Ambani has been trending online this week owing to the multimillion dollar pre-wedding festivities for his youngest son, which saw the world's richest and famous in attendance.