Elon Musk Falls To Second Richest Person In The World After His Fortune Drops Nearly $14 Billion

12 Jan, 2021
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Musk, who became the world’s richest person on Friday consistent with Forbes, loses that spot after Tesla’s stock fell nearly 8% on Monday. After a quick stint because the wealthiest person on the earth, Tesla billionaire Elon Musk is again the second-richest person within the world after his fortune fell by nearly $14 billion at some point.


Shares of his electric-vehicle maker, Tesla, fell by nearly 8% on Monday, pushing Musk’s net worth down by $13.5 billion, to $176.2 billion. After briefly overtaking Amazon CEO Jeff Bezos because the world’s richest person last Friday, Musk has again fallen to the second spot, according to Forbes’ estimates.

He is now about $6 billion behind Bezos, who features a net worth of $182.1 billion. Shares of Amazon fell by quite 2% on Monday, lowering Bezos’ net worth by $3.6 billion.

Over the course of 2020, Musk received several tranches of options worth billions of dollars each as Tesla hit various market capitalization and EBITDA milestones. The board of directors of Tesla certifies the award of each tranche then issues a handout during a regulatory filing with the Securities and Exchange Commission. Musk appears to be eligible for a further tranche of 8.44 million options—worth around $6.25 billion as of Monday’s closing price—but Forbes hasn’t yet attributed these options to Musk because the board hasn’t publicly certified them. (Bloomberg appears to count Musk’s latest tranche of options in its net worth calculations for Musk.)

Fueled by the skyrocketing Tesla share price, Musk’s fortune has increased by around $150 billion since March 2020, when he was worth $24.6 billion. Tesla’s stock rose quite 720% in 2020 and has already gained another 12% within the primary week of 2021. Tesla joined the S&P 500 Index in late December 2020, a move that drove the stock higher also. The world’s most precious automaker, Tesla produced half 1,000,000 cars in 2020—a fraction of the assembly at global giants like GM and Toyota.

Despite Musk’s drop on Monday, he's still some $20 billion richer than the third richest person within the planet, French luxury tycoon Bernard Arnault (worth $154.6 billion today).

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