Amazon founder Jeff Bezos loses World's Second-Richest man title to one of his biggest competitor

Meta CEO Mark Zuckerberg has surpassed Amazon founder Jeff Bezos to become the second-richest person in the world. According to Bloomberg Billionaires Index, Zuckerberg’s worth has jumped to $212 billion, while Bezos' worth remained $209 billion. As per the Bloomberg data, Zuckerberg gained $846 million on Monday i.e. May 5, while Bezos lost $2.90 billion. This comes after Meta shares increased over 16% last month, while Amazon's stock increased by just 6.33% during the same period. The Meta CEO was the only gainer among top three billionaires. He has gained $846 million since the last update and $4.63 billion so far this year.Meta reported first-quarter revenue of $42.31 billion on May 1, beating analyst estimates of $41.39 billion. For the second quarter, the company expects revenue between $42.5 billion and $45.5 billion, compared to a $44.06 billion estimate from Benzinga Pro.Additionally, Meta shares are up just 0.01% so far in 2025 but have gained 28.69% over the past year. On Monday, the stock rose 0.38% during regular trading before slipping 0.36% after hours to close at $597.10.Tesla and SpaceX CEO Elon Musk remains the world’s richest individual with a total net worth of $331 billion. Musk’s net worth increased by $7.5 billion on April 23, after the tech billionaire recommitted to dedicating more time to the company. Speaking at Tesla’s first quarter earnings call, Musk said that his time with the Department of Government Efficiency (DOGE) will drop ‘significantly’ next month. He said “Starting next month, May, my time allocation to DOGE will drop significantly” to a day or two per week. “I'll continue to spend a day or two per week on government matters for as long as the President would like me to do so,” Musk said during Tesla’s earnings call. Following the announcement, Tesla shares soared by 5% to $251 billion. Having said that Tesla shares have dropped by over 40% this year so far. Elon Musk, a close confidant of President Donald Trump has been working with the federal government on efforts to cut waste and reduce spending, raising concerns among investors.