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Bezos knocks Musk out of No. 1 spot on Bloomberg billionaires ranking

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Jeff Bezos on Monday beat out Elon Musk as the wealthiest billionaire.

That’s according to Bloomberg and its Billionaires Index, which now has the Amazon founder and his estimated $200.3 billion personal fortune sitting in the top spot.

Musk’s $197.7 billion net worth, much of which stems from his Tesla holdings, was roughly $2.6 billion lower than his fellow billionaire as of late Monday afternoon, the outlet reported.

Elon Musk

Elon Musk speaks onstage during The New York Times Dealbook Summit at Jazz at Lincoln Center on Nov. 29, 2023, in New York City. (Slaven Vlasic/for The New York Times / Getty Images)

Bloomberg tied it to Tesla’s stock performance, including a 7% drop on Monday. Since the beginning of 2024, the electric vehicle maker’s stock has also declined over 27%. 

ELON MUSK SUED BY OUSTED TWITTER EXECS FOR $128M IN SEVERANCE

The change at the top of the Billionaires Index on Monday marked a milestone of sorts for both of the tech leaders, according to the outlet.

Jeff Bezos

Jeff Bezos on the sidelines before the Chiefs take on the Los Angeles Chargers at GEHA Field at Arrowhead Stadium on Sept. 15, 2022, in Kansas City, Missouri. (Cooper Neill / Getty Images)

For Musk, the last time he fell off the top of the ranking was over nine months ago, Bloomberg reported. Bezos, meanwhile, most recently appeared at No.1 in 2021.

JEFF BEZOS SELLS 50M SHARES OF AMAZON STOCK: WHAT IS THE IMPACT ON HIS STAKE?

Amazon has posted an over 17% increase in its stock price since the start of 2024, something that has helped lift Bezos’ personal fortune and the 938.25 million shares he still owned as of late February following $8.5 billion in sales of company stock under a prearranged trading plan.

Bezos and Musk

Jeff Bezos and Elon Musk (Liesa Johannssen-Koppitz/Bloomberg via Getty Images | Jim Watson/AFP via / Getty Images)

With such a small gap currently between Musk and Bezos’ respective net worths, their positions on Bloomberg’s list could easily flip-flop depending on how Amazon and Tesla shares perform.

Musk has previously vied with LVMH CEO Bernard Arnault for Bloomberg’s No. 1 ranking.

There was a less than $1 billion difference in Musk and Arnault’s personal fortunes on Monday, the outlet reported.

WORLD’S TOP-5 RICHEST INCREASED THEIR WEALTH 114% SINCE 2020



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Urgent Money Miracle – $2+ EPC! Get Instant 90% Commission Bump

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Urgent Money Miracle – + EPC! Get Instant 90% Commission Bump
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NEW! Christian Wealth Manifestation – Highly Targeted For Christians!

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Product Name: NEW! Christian Wealth Manifestation – Highly Targeted For Christians!

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Predictions for Mortgage Rates in 2024: What to Expect

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As we look ahead to 2024, many homeowners and prospective buyers are wondering what to expect when it comes to mortgage rates. The landscape of the housing market is constantly changing, so it’s important to stay informed about trends and predictions. In this blog post, we will discuss some factors that could impact mortgage rates in 2024 and what homeowners and buyers can expect.

One factor that could impact mortgage rates in 2024 is the overall state of the economy. If the economy is strong and growing, we may see higher mortgage rates as the Federal Reserve looks to combat inflation. On the other hand, if the economy is stagnant or in a recession, we may see lower mortgage rates as the Fed looks to stimulate growth. It’s important to keep an eye on economic indicators such as GDP growth, unemployment rates, and inflation to get a sense of where mortgage rates may be heading.

Another factor that could impact mortgage rates in 2024 is Federal Reserve policy. The Fed plays a key role in setting interest rates, and their decisions can have a ripple effect on mortgage rates. If the Fed decides to raise interest rates in response to inflation, we may see an increase in mortgage rates. Conversely, if the Fed decides to lower interest rates to stimulate growth, we may see a decrease in mortgage rates. Keeping up with the latest news and announcements from the Fed can give homeowners and buyers a sense of where mortgage rates may be heading.

In terms of specific cities and local mortgage companies, it’s important to note that mortgage rates can vary depending on location and lender. For example, in a city like New York City, where real estate prices are high, mortgage rates may be higher compared to a city like Indianapolis, where real estate prices are lower. Additionally, local mortgage companies may offer competitive rates and terms compared to national lenders. For example, in New York City, local lenders like Quontic Bank and CrossCountry Mortgage may offer specialized products and services tailored to the needs of local buyers.

It’s important for homeowners and buyers to shop around and compare rates from multiple lenders to ensure they are getting the best deal. Websites like Bankrate and LendingTree can be helpful resources for comparing rates and terms from multiple lenders. Homeowners and buyers should also consider working with a mortgage broker who can help them navigate the lending process and find the best mortgage product for their needs.

In conclusion, predicting mortgage rates in 2024 is not an exact science, but there are several factors that could impact rates. By staying informed about economic indicators, Federal Reserve policy, and local market trends, homeowners and buyers can make informed decisions about their mortgage. Shopping around and comparing rates from multiple lenders is key to ensuring you are getting the best deal on your mortgage. Whether you’re looking to refinance your existing mortgage or buy a new home, it’s important to stay informed and be proactive in managing your mortgage.

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