Elon Musk loses world’s richest person title to Jeff Bezos

For the first time in more than nine months, Elon Musk is no longer the world’s richest person, according to the Bloomberg Billionaires Index on Monday.

Musk lost his position atop the Bloomberg Billionaires Index to Jeff Bezos after shares in Tesla tumbled 7.2% on Monday. The Amazon founder’s net worth was $200 billion, while Musk followed at $198 billion. Musk has lost about $31 billion over the past year, while Bezos has gained $23 billion, according to the index.Tesla shares had tumbled more than 7% on Monday.

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. Details about the calculations are provided in the net worth analysis on each billionaire’s profile page. The figures are updated at the close of every trading day in New York.

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