Amazon’s Jeff Bezos loses claim to world’s richest man title

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Amazon CEO Jeff Bezos momentarily lost his title as the world’s richest man when his company’s share price dropped by seven percent last week.

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The hit to the company’s value represented a loss of $13.9 billion to Bezos’ net worth, according to

French tycoon Bernard Arnault took the number one spot from Bezos. Arnault leads luxury goods conglomerate LVMH – which owns a number of brands including Louis Vuitton, Sephora, and Tiffany & Co.

Arnault’s wealth grew by nearly $100 billion during 2020, despite the worldwide recession brought about by the coronavirus pandemic.

His net worth sat at $195.8 billion as of Monday compared to Bezos’ $192.6 billion.

Bezos made history in 2020 by pushing his net worth above $200 billion as Amazon’s net worth skyrocketed during pandemic lockdowns.

Restrictions on in-person shopping led to huge gains for the online retailer.

He channeled some of his wealth into space exloration venture Blue Origin, with which he blasted off into a sub-orbital space flight in July.

There are around 2,755 billionaires in total worldwide, 86 percent of whom are richer than they were one year ago.

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