Musk drops to second on the Bloomberg Billionaires Index of the world’s 500 richest people with a net worth of $183.4 billion -- down from a peak of $210 billion in January. Amazon.com Inc. founder Jeff Bezos reclaimed the top spot even as his fortune fell by $3.7 billion to $186.3 billion Monday.
Elon Musk is no longer the world’s richest person after Tesla Inc. shares slid 8.6% on Monday, wiping $15.2 billion from his net worth.
Tesla’s biggest decline since September was fueled in part by Musk’s comments over the weekend that the prices of Bitcoin and smaller rival Ether “do seem high.” His message — via his favored medium of Twitter — came two weeks after Tesla announced it added $1.5 billion in Bitcoin to its balance sheet.
Tesla CEO Elon Musk is no longer the richest person in the world after Tesla Inc shares fell 8.6% on Monday. The massive fall in Tesla shares wiped off USD 15.2 billion from Musk's net worth.
Reason behind Tesla decline
Tesla shares fell after Musk said over the weekend that the prices of Bitcoin and rival Ether “do seem high." The two billionaires have been swapping places since January as the value of Tesla fluctuated. The stock surged as much as 25% to start 2021 before wiping off almost all of this year’s gain. Musk briefly overtook Bezos after his rocket company SpaceX raised $850 million earlier this month, valuing the company at $74 billion, a 60% jump from August.
Bezos occupied the top spot on the ranking for three straight years prior to January, when Musk eclipsed the e-commerce titan thanks to a 794% rally in Tesla shares.
Tesla and Bitcoin
Musk's tweet came two weeks after it was announced by Tesla that it has added USD 1.5 billion in Bitcoin to its balance sheet.
Musk and Model Y Standard Range SUV
Earlier on Monday, Musk also tweeted that Tesla's Model Y Standard Range SUV would still be available “off the menu."
Who is world's richest person?
Musk is now at the second spot on the Bloomberg Billionaires Index of the world’s 500 richest people with a net worth of $183.4 billion. Amazon founder Jeff Bezos is now world's richest person.
Jeff Bezos as world's richest man
Jeff Bezos remained the world's richest man for three straight years prior to January 2021.
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