Tech giant and X CEO Elon Musk slipped to number 2 in the Bloomberg Billionaires Index as his shares in Tesla Inc. tumbled. The businessman now holds a net worth of $197.7 billion.

Amazon chief Jeff Bezos now grabbed the top spot, with a staggering net worth of $200 billion compared to Elong Musk’s $198 billion.

In the ongoing year, Jeff Bezos saw an uptick of $23 billion in profits and contrariwise, the Twitter chief jolted with loss of about $31 billion.

In comparison between the two leading global giants, the stock price of E-commerce company Amazon moved up by over 18pc this year, whereas Tesla’s saw a plunge of 24 percent. Despite selling $8.5 billion worth of Amazon shares in recent times, Jeff Bezos remains the largest shareholder with a 9.56 percent stake.

On the other hand, Elon Musk holds an equity stake in Tesla of approximately 20 percent. The internet sensation also owns leading social platform X and SpaceX. He made it to the top spot in May this year, taking over LVMH owner Bernard Arnault, who now stands at third place on coveted list.