- Tesla CEO Elon Musk has fallen on Forbes’ rich list from first to second case, behind Amazon CEO Jeff Bezos, Forbes reports.
- Tumbling shares in its electric vehicle company Tesla cut $ 13.5 billion from its fortune on Monday, according to Forbes’ calculations.
- Bezos estimates Forbes recovers the top spot with a fortune of $ 182.1 billion, compared to Musk’s $ 176.2 billion
- Musk takes a small salary from its companies, but has a significant stake in Tesla and SpaceX.
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After a brief stint at the top of Forbes’ rich list, Elon Musk has now slipped back to second place behind Amazon CEO Jeff Bezos after shares in his electric vehicle company Tesla cut $ 13.5 billion from his fortune on Monday. .
Musk became the richest person in the world on Thursday – a result of his fortune, which grew by more than $ 150 billion in a year.
But Tesla shares fell nearly 8% on Monday, the biggest one-day decline since late September. According to Forbes estimates, it pushed its total wealth to $ 176.2 billion, compared to Bezos’ fortune of $ 182.1 billion.
Despite Musk’s loss of wealth, he still stands more than $ 20 billion above Bernard Arnault, CEO of the French luxury goods conglomerate LVMH and the world’s third richest person, according to Forbes’ estimate.
Musk has been at the top of Bloomberg’s billionaires ‘index since Tuesday morning, where he has $ 194 billion compared to Bezos’ $ 183 billion. His calculations take into account that Musk will lose $ 15.6 billion from Monday to Tuesday.
Read more: How Tesla Striked Back From The Worst Mistake Elon Musk Ever Made And Became The World’s Most Valuable Car Company
Although Musk takes a small salary from his companies, he has a 20% stake in Tesla and a 48% stake in the space company SpaceX, as well as 57 million established Tesla stock options, per Bloomberg.
Tesla experienced a booming 2020 and sold nearly 500,000 vehicles, and the share price rose 740%.
His compensation package also gives him shares when Tesla achieves certain goals. This made Musk the highest paid driver in 2020.
Musk, who is also known for his judgmental and sometimes cryptic tweets, posted an underrated response after Bloomberg declared him the richest person in the world on Thursday.
“How strange,” he tweeted. “Well, back to work …”
In December, he told Mathias Döpfner, CEO of Insider’s parent company Axel Springer, that he was selling all of his possessions to fund a future colony on Mars.
He also sold several properties, including three neighboring homes in the Bel-Air neighborhood of Los Angeles.