getty 1215628293 200013332000928069 434121 - Elon Musk Falls To No. 2 Richest Man In The World
CEOs Technology

Elon Musk Falls To No. 2 Richest Man In The World

So big news, after climbing to the No.1 spot just some few days back, Tesla founder and CEO Elon Musk has now dropped to the second richest man in the world after his wealth fell by almost $14 billion in one day. ($14 billion in one day guys)

Elon Musk back to No.2

musk 300x200 - Elon Musk Falls To No. 2 Richest Man In The World

On Monday the electric car Maker saw a huge dip of about 8% in Tesla’s shares which in turn took out around $13.5 billion in Musk’s net worth, now putting him at $176.2 billion.

As we all know, Elon Musk overtook Amazon’s CEO Jeff Bezos, to become the world’s richest man last Friday. But right now Musk has backslided to No.2 according to Forbe’s estimates.

Jeff Bezos is now about $6 billion ahead of Elon Musk, with a net worth of $182.1 billion. Yes Amazon also saw little drop in shares on Monday of more than 2%, which brought Bezos net worth to that stated above.

It is also worth noting that In 2020, Elon Musk got a lot of tranches of options which were worth billions of dollars each as Tesla hit various market capitalization.

Owing to Tesla’s skyrocketing share price, Elon Musk fortune has jumped by around $150 billion since March 2020 when he was worth just a mere $24.6 billion.
Tesla’s stock went up by over 720% in 2020 and 12% in the first week of 2021.

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The main kicker or reason why Tesla experienced this massive jump was them joining the S&P 500 Index in December 2020. The electric car Maker was said to have produced half a million cars in 2020 and is now named the most valuable car company in the world, ahead of other big names like Toyota, General Motors, BMW and Mercedes.

So despite the fact that Elon Musk dropped to second place by a few billion dollars, he is still some $20 billion richer than the third richest person in the world, Bernard Arnault who is worth $154.6 billion.

Now it is also worth noting that Elon Musk dropped to No. 2 and not Jeff Bezos rising. It an entirely different thing to say that Jeff Bezos added more billions to his net worth thereby overtaking Musk and saying that Musk lost some cash thereby going below Bezos.

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Emmanuel
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