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Elon Musk is Once Again The Second Richest Man after a Fall in Tesla Stock

The CEO of Tesla, Elon Musk, who was earlier declared as the world’s wealthiest person, suddenly dropped to the second position. Jeff Bezos, the CEO of Amazon, goes back to the top of the list. The sudden downfall of Elon Musk was because his net worth suddenly fell to 176.2 billion dollars. His net worth fell by 13.2 billion dollars in just a few days. The net worth of Jeff Bezos is 182.1 billion dollars. We have come to know that Elon Musk takes a very minimal salary from his companies. He, on the other hand, has large stakes in SpaceX and Tesla.

Elon Musk no longer the wealthiest of all??

Elon Musk
Elon Musk drops to the second position.

Elon Musk remained the chart-topper among the wealthiest people worldwide for a brief time period. He dropped to the second position making Jeff Bezos regain his earlier position. His position’s downfall was because there was a downfall of 13.5 billion dollars in his e-vehicle company, Tesla.

On Thursday, Elon Musk was the world’s wealthiest person, with his company making a fortune of over 150 billion dollars in a year. But his luck did not last long as, by the next Monday, his shares fell by 8%, and he dropped to the second position.

His total wealth dropped down to 176.2 billion dollars compared to Jeff Bezos’ 182.1 billion dollars fortune.

Although there was a downfall in Elon Musk’s wealth, he is still Bernard Arnault (the third richest person globally, according to Forbes) by 20 billion dollars. Arnault is the CEO of LVMH, a French luxury items conglomerate.

According to Bloomberg’s Billionaires Index- Elon Musk was still the chart-topper till Tuesday. Elon Musk was said to possess 193 billion dollars compared to Jeff Bezos’ 183 billion dollars. There was a downfall in Musk’s fortune by 15.6 billion dollars.

Musk charges a minimal amount as salary from all his companies. In Tesla, he holds a stake of 20%, and in SpaceX, he owns 48%. He has invested about 57 million dollars in the stocks of Tesla. Tesla had an amazing previous year with more than 5,00,000 cars being delivered, and the stock price booming by 740%. Whenever Tesla achieves a few goals, Musk gets awarded with good compensation. This happens because of the small amount he charges. Elon Musk was the most paid executive in 2020. You can check the real-time Forbes Billionaire list for more updates. 

READ MORE: Tesla: Elon Musk to introduce Tesla Cars in India

Elon Musk is also known for his outspoken and sarcastic posts on Twitter. On being declared the richest, he tweeted.

” How strange!! Well, back to work… “

Elon Musk is currently in the second position with $184.7 Billion (as per the real-time data) whereas Jeff Bezos is in the number one position with  $184.8 Billion (as per the real-time data) as Tesla Stock again picking up we can expect Elon Musk to be back in the number 1 position in no time.

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