Amazon founder Jeff Bezos surpassed French luxury goods billionaire Bernard Arnault as the world’s second-wealthiest person on Monday morning, as LVMH shares dipped and Amazon shares rose slightly—and the two battled for the title throughout the day.
According to Forbes’ Billionaires List, Bezos’ net worth was $204.3 billion as of 4 p.m. EDT on Monday, up $2.4 billion that day.
Arnault, who manages the LVMH empire of luxury fashion and cosmetics firms including Louis Vuitton and Sephora, was only behind Bezos with a net worth of $203.9 billion, a $4.3 billion decrease as of 4 p.m.
Arnault’s LVMH shares fell 2.21% at the closing on Monday, while Amazon shares rose 1.5%, modestly increasing Bezos’ net worth.
The world’s wealthiest individual remains Tesla CEO Elon Musk, who Forbes estimates has a net worth of $207.8 billion as of Monday afternoon.
How the couple flips during the day. As of 4 p.m., Bezos and Arnault had at least four times switched places as second and third.
The top of our billionaire tracker has changed several times in recent weeks. Prior to Bezos’ death, Musk and Arnault were vying for the title of richest person in the world. Amazon is up more than 6% in the previous three months, while Tesla is up only 0.39% and LVMH is down 12.99%. Musk’s fortune has fluctuated this year as Tesla stock has suffered. However, Musk might pull away with the No. 1 title if Tesla shareholders vote to reinstate his $50 billion pay deal on Thursday, increasing his shareholding in Tesla from 13% to 22%.
Earlier this year, Bezos competed with Musk for the title the world’s second-wealthiest person and the wealthiest in the United States. In March, the pair switched positions 13 times. Prior to that, Musk had held the title of richest person in the US for over two years.