This article originally appeared on Business Insider.
Jeff Bezos is now only about $8 billion away from overtaking Elon Musk to become the world's richest person, thanks to a surge in Amazon's stock this year and a slump in Tesla.
The Amazon founder and chairman has seen his estimated wealth increase by $20 billion this year, according to the Bloomberg Billionaires Index. That largely reflects the 13% rise in Amazon's stock this year, which has propelled him to second place on the richest list with a net worth of $197 billion.
In contrast, Mr. Musk's fortune fell by $24 billion to $205 billion, largely due to a 24% drop in Tesla stock.
Bloomberg's estimates still include the value of about 304 million stock options included in Musk's 2018 compensation plan, which was recently invalidated by a Delaware court.
As a result, Bezos currently trails Elon Musk in net worth by just 4 percentage points, and could soon leapfrog him if Amazon continues to rise or Tesla continues to fall.
Bezos owned 988 million Amazon shares at the end of December, nearly 10% of the company's stock, worth $169 billion as of Friday's close.
Meanwhile, Musk owns about 411 million Tesla shares, or about 13% of Tesla's stock, worth about $76 billion. The remainder of his fortune is made up of shares in SpaceX, Twitter, and other businesses.
It's worth noting that Bezos revealed last week in the company's annual report that he plans to sell up to 50 million Amazon shares, worth $8.6 billion, by the end of next January. He adopted the trading plan in November.
Mr. Bezos led the Bloomberg index from 2017 until January 2021, when Tesla's stock rose by about $10 billion, surpassing Mr. Musk's $194.9 billion.
Big Tech earnings releases in recent days have contributed to this year's reorganization of Bloomberg's rich list. Meta shares soared 20% on Friday after exploding profits, boosting founder Mark Zuckerberg's wealth by $28 billion to $170 billion, taking his wealth growth this year to an unparalleled $42 billion It became.
Buffett wins over 'Google guys'
Meanwhile, Warren Buffett has moved up to seventh place, ahead of Oracle co-founder Larry Ellison, “Google Guy” Larry Page, and Sergey Brin.
Mr. Ellison's net worth has been hit by the decline in the value of Tesla's stock, and Mr. Page and Brin's holdings have been eroded by the 6% drop in Alphabet stock after last week's earnings.
Buffett's Berkshire Hathaway stock, meanwhile, has risen about 9% since the beginning of the year on the brighter economic outlook. While investors' wealth grew by an estimated $10 billion in the first five weeks of this year, Mr. Ellison's wealth increased by only about $7 billion, while Mr. Page and Brin each gained about $2 billion.
It is certainly surprising that Musk's net worth has plummeted from a peak of around $340 billion at the end of 2021 to around $200 billion today. But Tesla stock is still up more than six times since the start of 2020, while Amazon stock has less than doubled.