Jeff Bezos is no longer the world’s richest person

Amazon founder Jeff Bezos is no longer the wealthiest man in the world, after Tesla CEO Elon Musk’s fortune on Thursday rose to $188.5 billion, $1.5 billion more than Bezos.

Shares in electric carmaker Tesla rose by more than 6 percent on Thursday to push South African-born Musk into the top spot, removing Bezos from the place he has occupied for more than three years, according to the Bloomberg Billionaires Index.

Meanwhile, Amazon’s shares have lowered from their September high of about $3,500 to roughly $3,200 as investors sell off anticipating the incoming administration under President-elect Joe Biden will tighten tech regulation and cut into profits for the online retail giant.

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