Bill Gates is in danger of losing his position as the second-wealthiest American to Warren Buffet.
As of Thursday's close, the investor and his company was worth $108 billion according to the billionaires index. Bezos is the second richest person in the world with a $107 billion fortune.
Bill Gates has a net worth of $110 billion, putting him within touching distance of his friend, Warren Buffet. Musk has a $138 billion fortune.
At the start of this year, Musk, Bezos, and Gates had vastly different amounts of money. He has closed the gap on Gates and Musk because of the relative out performance of his stock.
Amazon shares have halved in value this year and Microsoft shares have plummeted. If he hadn't donated $5 billion of his stock to good causes this year, the value of his wealth would have gone up.
It's worth pointing out that since 2006 he has given away roughly half of his shares. He would be the world's wealthiest person if he had kept his full stake of nearly 475,000 A shares.
Even though his fortune has gone down, he is still fifth on the rich list. Bernard Arnault is the most valuable man in the world with a $165 billion net worth. If Gates is deposed from the number four spot, Musk will be the only American with more money than him.
In the face of historic inflation, soaring interest rates, and a potential recession, investors have switched out of growth stocks such as Microsoft and Amazon.
The conglomerate owned scores of businesses and billion-dollar stakes in public companies such as Coca-Cola. As a result, investors think it's well positioned to weather an economic downturn.
The ultimate investor is Warren Buffet.
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