Only two weeks after losing his status as the world’s richest person to LVMH CEO Bernard Arnault, Amazon’s Jeff Bezos recaptured it.
According to Forbes, Amazon shares rose more than 2% on Thursday, June 10, boosting Bezos’ net worth by $3.5 billion, while shares in Arnault’s luxury giant LVMH fell over 1%, reducing his fortune by $1.4 billion.
Bezos’ net worth now stands at $193.5 billion, Forbes estimates, compared to Arnault’s $192.9 billion.
According to Forbes, the last several weeks have been a rollercoaster for the two titans, who have been trading the top rank back and forth. Arnault briefly passed Bezos on May 24 and 25, just before the New York markets opened and Amazon shares soared, giving the Amazon founder the upper hand. Anault then took the lead on May 27 and held it for two weeks.
Most of Bezos’ net worth is tied up in his Amazon shares. He owns about 10% of the e-commerce giant in addition to an estimated $19 billion worth of cash and investments, $500 million in real estate, plus aerospace company Blue Origin and the Washington Post.