Elon Musk is no longer the world’s richest person

Jeff Bezos regains his position as world's richest person...

Since Tesla Inc. stock slid 8.6 percent on Monday, wiping $15.2 billion off his net worth, Elon Musk is no longer the world’s richest man. Bezos came back with a net worth of $191.2 billion as the richest man in the world.

Tesla’s downturn was fueled in part by Musk’s weekend remarks that Bitcoin rates and smaller competitor Ether “look high.” His tweet came two weeks after Tesla revealed it had added $1.5 billion in Bitcoin.

On the Bloomberg Billionaires Index, Musk slips to second among the world’s 500 richest individuals, with a net worth of US$183.4 billion. Even as his fortune fell by US$ 3.7 billion to US$ 186.3 billion, Amazon.com Inc. founder Jeff Bezos regained the top spot.


Earlier Monday, Elon Musk also tweeted that the company’s Brand Y Standard Range SUV will still be available “off the menu,” following up rumors from Electrek’s electric vehicle news website that the model had been deleted from its online configurator.

This year, the two billionaires have been exchanging positions as Tesla’s value plummeted. After his SpaceX rocket corporation received $850 million earlier this month, Musk momentarily overtook Bezos, valuing the company at $74 billion, a 60% leap from August.

This year, Tesla has grown in valuation and last month achieved a market value of $700 billion, making the electric car producer worth more than Toyota, Volkswagen, Hyundai, GM and Ford combined.

Also Read: Top 10 Richest People in Pakistan

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Nayab Khan

Nayab Khan is a freelance tech-writer whose specialty is absorbing the key data and articulating the most important points. She helps IT based organizations communicate their message clearly across multiple channels.

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