Jeff Bezos reclaims spot as world’s richest person

Amazon founder has reclaimed the title as world's richest for the first time since the fall of 2021.

Transcript

00:00 I'm JD Durkin reporting from the floor of the New York Stock Exchange.

00:03 Stocks were in the red to close out today's trading session.

00:06 The Dow closed down over 400 points.

00:08 The tech-heavy Nasdaq closed down just over 1.5 percent, while the S&P 500 closed 1 percent

00:14 lower.

00:15 Tech stocks were dragged lower on the day after a recent report that found Apple's iPhone

00:19 sales plunged 24 percent in China to kick off 2024.

00:24 Separately, investors are also looking ahead to Fed Chair Jerome Powell's testimony on

00:28 Capitol Hill Wednesday, as well as key labor market data with the February jobs report

00:33 out on Friday.

00:35 In other news, the title for world's richest person has changed hands again, and it is

00:39 now Jeff Bezos again.

00:42 According to the Bloomberg Billionaires Index, the Amazon CEO is now worth $200 billion,

00:47 edging out Elon Musk by $2 billion to take the top spot.

00:51 Bezos has been battling both Musk and LVMH boss Bernard Arnault for the title for several

00:56 months.

00:57 The Bezos company is home to high-end brands like Fendi, Christian Dior, and Tag Heuer,

01:02 while Musk, of course, is CEO of Tesla, X, and SpaceX.

01:07 The five wealthiest people alive, which also include Meta's Mark Zuckerberg and Microsoft

01:12 co-founder Bill Gates, are worth a combined $924 billion.

01:16 Together, the five centi-billionaires would account for the 19th highest GDP in the world.

01:23 The top 14 spots on Bloomberg's billionaires list are men.

01:28 L'Oreal's Francois Bettencourt-Meyer, at 15, is the wealthiest woman alive, with a

01:32 net worth of just over $97 billion.

01:36 That'll do it for your daily briefing.

01:37 From the floor of the New York Stock Exchange, I'm JD Dirken with The Street.

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