Elon Musk falls to the second richest person in the world after his fortune dropped by almost $ 14 billion in one day

After a brief stint as the richest person on the planet, Tesla billionaire Elon Musk is once again the second richest person in the world after his fortune dropped by nearly $ 14 billion in one day.

The shares of its electric vehicle manufacturer, Tesla, fell nearly 8% on Monday and Musk’s net worth fell $ 13.5 billion to $ 176.2 billion. After Musk, Jeff Bezos, briefly surpassed as the world’s richest person last Friday, Musk fell to second place again, according to Forbes‘treasure.

He is now about $ 6 billion behind Bezos, which has a net worth of $ 182.1 billion. Shares of Amazon fell more than 2% on Monday, lowering Bezos’ net worth by $ 3.6 billion.

Over the course of 2020, Musk received several billion-dollar options each when Tesla reached various milestones for market capitalization and EBITDA. The board of directors of Tesla ratifies the allocation of each share, and then issues a statement in a regulatory filing with the Securities and Exchange Commission. Musk appears to be eligible for another 8.44 million options – worth about $ 6.25 billion from Monday’s closing price – but Forbes has not yet attributed these options to Musk because the board has not publicly certified them. (Bloomberg seems to be calculating the latest set of options in Musk’s net worth calculations.)

Driven by the rising Tesla share price, Musk’s fortune has increased by about $ 150 billion since March 2020, when it was worth $ 24.6 billion. Tesla’s share increased by more than 720% in 2020 and increased by another 12% in the first week of 2021. Tesla joined the S&P 500 index at the end of December 2020, a step that also drove the stock higher. Tesla, the world’s most valuable carmaker, produced half a million cars by 2020 – a fraction of the production of world giants such as GM and Toyota.

Despite Musk’s decline on Monday, he is still about $ 20 billion richer than the third richest person in the world, French luxury magnate Bernard Arnault (today $ 154.6 billion).