Jeff Bezos defeats Elon Musk to become second richest man

Amazon founder Jeff Bezos has once again dethroned tech billionaire Elon Musk to become the world’s second richest man after stocks surged, Forbes reported.

Bezos' wealth now stands at $202.4 billion after a $5.4 billion stock increase. Musk’s wealth has boosted to $197.7 billion after a $11 million increase.

In April, Musk’s successful trip to China, which cleared key regulatory hurdles that hindered its self-driving software, pushed him ahead of Bezos, making him the second richest man in the world. However, he is now back in the third position.

The e-commerce founder is only $4.5 billion short of becoming the richest man on earth.

The two billionaires have been going back and forth for the position of second wealthiest person for months now; they changed positions at least 13 times last month.

Before March, the position was mostly held by the Tesla chief executive, but after hundreds of staff were made redundant and Tesla sales were reduced, Musk is facing difficulties maintaining the position.

Currently, Bernard Arnault, the chairman of LVMH, with a net worth of $206.9 billion, is the world’s richest man.

Bezos is currently in a relationship with journalist Lauren Sanchez, whom he shares a home with in Florida. In 2019, he announced his divorce from his wife of 25 years, Mackenzie Scott.