Elon Musk, the founder of Tesla, has once again surpassed Jeff Bezos of Amazon to become America’s wealthiest person.
This comes just a few weeks after Bezos held the top place.
Musk’s worth jumped by roughly $5.5 billion on Monday, putting him ahead of Bezos, whose wealth increased by about $450 million, according to the Forbes Real-Time Billionaire Index.
At the time of publication, Musk’s net worth was projected to be $194.2 billion, slightly greater than Bezos’ $192.8 billion.
However, LVMH’s Bernard Arnault remains the world’s wealthiest individual, with an estimated fortune of $234.8 billion as of Tuesday morning. Musk is currently the biggest gainer in Monday’s stock trading on Forbes.
Musk’s rebirth as the second-wealthiest person comes as Tesla’s stock price surged on Monday.
The jump came after Tesla announced a price increase for its Model Y electric vehicle in select markets, reversing prior pricing decreases.
Tesla’s stock was up 5.59% as of 12:30 p.m. EST on Monday, its highest single-day percentage rise since November 14, 2023, when it gained by 6.12%. In contrast, Amazon’s shares rose 0.24% on the same day.
Musk momentarily relinquished the title of wealthiest person to Bezos last week as Tesla shares fell to a 10-month low of less than $170, a 4.5% loss. The fall occurred after analysts described Musk’s electric vehicle company as a “growth company with no growth.”