Although Amazon stock fell by 1.3% on Wednesday, lowering Bezos’ net worth by $1.3 billion, shares of Arnault’s luxury conglomerate LVMH dropped by 5.2% in European trading, slashing the Frenchman’s fortune by $9.9 billion. Still, at the close of markets on Wednesday, Bezos’ net worth was an estimated $186.1 billion, edging out Arnault’s estimated $185 billion. He has cashed out $6.6 billion worth of Amazon stock this year, but has not sold any shares since the end of his CEO tenure. Bezos briefly hit a net worth of $200 billion in April and again in July, when Amazon stock reached an all-time high. Bezos has had an eventful year, notably blasting into outer space last month aboard Blue Origin’s first manned flight.

Source: Forbes August 18, 2021 21:56 UTC