Elon Musk Falls Back To Being Second Richest Person In The World
It was only last week that Elon Musk made headlines when he dethroned Jeff Bezos as the world's richest person, a title Bezos held since 2017. But it seems that it was a short-lived title for Musk as he falls back into second place after just a few days.
The space billionaire and electric car kingpin lost nearly US$14 billion in one day after shares of Tesla fell nearly eight per cent on Monday. This pushed Musk's fortune down to US$176.2 billion. Musk briefly overtook Bezos with his US$185 billion fortune with Bezos close behind with a billion short. Now, Bezos's net worth is US$182.1 billion as Amazon shares fell by more than 2 per cent on Monday.
Despite Musk's drop in ranking, he's still approximately US$20 billion richer than the third titleholder, French luxury tycoon, Bernard Arnault who is worth US$154.6 billion.