Elon Musk moves down to second spot in list of richest people in world; Amazon founder gets first place

For the first time in the last nine months, Elon Musk has fallen to second place in the list of the world's richest people. It was Amazon founder Jeff Bezos who dethroned Elon Musk on the Bloomberg Billionaires Index and reclaimed his spot as the world's richest man.

Bezos' net worth stands at $200 billion, according to the tracker, surpassing the Tesla chief's $198 billion.

Musk, who also heads X (formerly Twitter) and SpaceX, has seen his riches fall by more than $30 billion as Tesla's share price has dropped 25 percent in recent months.

Adding to Musk's woes, a court in January approved the annulment of his enormous Tesla compensation agreement, worth $55.8 billion and originally struck in 2018.

Bezos, who no longer runs Amazon, has meanwhile benefited from the e-commerce giant's rising stock price.

Even after recently selling off $8.5 billion in stocks he remains the company's largest shareholder.

The French CEO of the luxury group LVMH, Bernard Arnault, remains in third place in the rankings of the world's richest people, worth $197 billion.