Stonie, hailing from San Jose, California beat Chestnut by two dogs at the event held yesterday in Coney Island, Brooklyn, New York City.
"I trained hard for this, and I came prepared," Stonie said after the much-popular event.
Chestnut, who had won the hot dog eating contest every July 4 since 2007, just could not catch up with Stonie.
"I just didn't find my rhythm," Chestnut said. "I did bad. He deserved to win."
The 31-year-old former top dog set the men's record for eating 69 hot dogs and buns in 10 minutes in 2013.
Stonie walked away with the coveted mustard yellow winner's championship belt and USD 40,000 in prize money.
In the women's competition, defending champion Miki Sudo retained first place with the Las Vegas woman downing 38 hot dogs and buns in 10 minutes to claim the title along with the corresponding USD 10,000 prize.
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