The founder of tech giant Amazon had topped the Bloomberg Billionaires Index list for three years before briefly losing the position to Mr Musk. It came after the SpaceX founder lost about $4.5 billion Tuesday when Tesla (TSLA) shares fell 2.4 percent.
Mr Bezos saw his company’s stake skyrocket by $75 billion in 2020, to $173.3 billion.
The ranking currently sets Mr Bezos’ worth in $191 billion, while Mr Musk follows closely at $190 billion.
At the beginning of February, Mr Bezos announced he will step down as chief executive of the e-commerce company he founded in 1994.
Andy Jassy, the current head of Amazon’s cloud computing business, will take control of daily operations.
However, Mr Bezos will not completely relinquish his role in the company as he is set to take on the position of executive chairman.
Mr Bezos said stepping down will allow him to have more time to focus on the Bezos Earth Fund, his Blue Origin spaceship company, The Washington Post and the Amazon Day 1 Fund.
He announced the news to his employees in a letter which read: “I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO.
“In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives.