Wealth evaporates 14 billion in a day, billionaire Elon Musk lost the richest throne in the world

After briefly becoming the richest person on the planet, Tesla CEO Elon Musk fell to second place after his fortune evaporated nearly $ 14 billion in just one day.

Shares of electric car maker Tesla lost nearly 8% on trading Monday, dropping Musk’s net worth by $ 13.5 billion, to just $ 176.2 billion. After briefly surpassing Amazon CEO Jeff Bezos to become the richest man in the world last Friday, Musk is now back at No. 2 according to Forbes magazine estimates.

Now Musk’s net worth is $ 6 billion less than that of Mr Bezos, who has a net worth of $ 182.1 billion. Shares of Amazon also fell 2% on Monday trading, causing Mr Bezos’s fortune to drop $ 3.6 billion.

In 2020, Musk received several billion-dollar stock options for every milestone Tesla hits in its capitalization. It seems that Musk qualified for another batch of options with 8.44 million shares – worth about $ 6.25 billion at Monday’s closing prices – but Forbes has not yet counted these options for Musk. , because the company board has not publicly confirmed them.

Fueled by the hurricane price surge of Tesla shares, Musk’s fortune has also increased by about $ 150 billion since March 2020. Tesla shares, meanwhile, are up about 720% in 2020 and just another 12% in the first week of 2021. By the end of December 2020, Tesla shares joined the S&P 500 Index, a moves to push the stock price higher even though the company has only produced 500,000 electric cars for the past year – a small amount compared to GM or Toyota.

Even with nearly $ 14 billion of net worth evaporated, Musk is still $ 20 billion richer than the third person, French luxury goods magnate Bernard Arnault (worth $ 154.6 billion).

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