Jeff Bezos, the founder of Amazon, on Thursday, March 21, replaced Bernard Arnault as the world’s richest person.

According to data from Bloomberg Billionaires Index, Bezos has a net worth of $201 billion.

His net worth rose by $2 billion, from $199 billion on March 20.

The publication said Bezos’ source of wealth is from his e-commerce and cloud computing company, Amazon, as well as investments in media and streaming markets.

Arnault dropped from the top position after a $3 billion decline in his net worth, which fell from $202 billion to $199 billion within 24 hours.

Following the drop, Arnault, the owner of Louis Vuitton and Moët Hennessy (LVMH), is now ranked second on the list of the richest people in the world. Arnault is described as an investor and art collector, with an empire of 75 fashion and cosmetics brands, which includes Sephora.

The French businessman also owns jeweller, Tiffany & Co. after acquiring the company for $16 billion in 2021.

Elon Musk, owner of Tesla and X (formerly Twitter), follows the Frenchman closely in third position, with a net worth of $189 billion.

Facebook Founder, Mark Zuckerberg comes fourth with an estimated wealth of $179 billion while Bill Gates, Microsoft founder, comes fifth with an estimated net worth of $153 billion.