For the first time in more than nine months, Elon Musk is no longer the richest person in the world. Musk lost the throne to Jeff Bezos, according to the Billionaires Index, after shares in Tesla Inc. fell by 7.2% on Monday.

Musk now has a net worth of $197.7 billion, while Bezos’s fortune is $200.3 billion. It is the first time since 2021 that Bezos, 60 years old, the founder of Amazon.com Inc., leads the ranking of the world’s richest people.

The wealth gap between Musk, 52, and Bezos, which once was $142 billion, has narrowed as Amazon and Tesla shares move in opposite directions.

Tesla has fallen about 50% from its peak in 2021. Tesla’s shares dropped on Monday after preliminary data showed that shipments from its Shanghai factory were at their lowest level in more than a year. Amazon, meanwhile, is triumphing from the increase in online sales since the beginning of the pandemic.

Most of Bezos’s wealth comes from his 9% shareholding in Amazon. He is the largest shareholder of the online retail sales. For Bezos, being at the top of the list of the richest people is nothing new.

He first dethroned Microsoft Inc. co-founder Bill Gates as the richest person in the world in 2017.