After a brief stint as the wealthiest person on the planet, Tesla billionaire Elon Musk is again the second richest person in the world after dropping nearly $ 14 billion a day.
His electric vehicle maker Tesla’s shares fell nearly 8% on Monday, reducing Musk’s net worth by $ 13.5 billion to $ 176.2 billion. After defeating Amazon CEO Jeff Bezos as the world’s richest man last Friday, Musk has again fallen to second place, according to Forbes‘ an estimate.
He is now nearly $ 6 billion behind Bezos, with a net worth of $ 182.1 billion. Amazon shares fell more than 2% on Monday, reducing Bezos’ total assets by $ 3.6 billion.
During 2020, Musk received several billion-dollar options, as Tesla hit various market capitalizations and EBITDA milestones. Tesla’s board of directors certifies the award of each installment, and then issues a statement in a regulatory filing with the Securities and Exchange Commission. Musk appears to be eligible for another installment out of 8.44 million options – around $ 6.25 billion as of Monday’s closing price – but Forbes Musk has yet to attribute these options because the board has not publicly certified them. (Bloomberg appears to be counting the latest installment of options in its net worth calculation for Musk.)
Tesla share price has skyrocketed, with Musk’s fortune rising by nearly $ 150 billion since March 2020, when it stood at $ 24.6 billion. Tesla’s stock rose more than 720% in 2020, and has increased another 12% in the first week of 2021. Tesla joined the S&P 500 index in late December 2020, a move that pushed the stock even higher. Tesla, the world’s most valuable automaker, produced half a million cars in 2020 — a share of production among global giants such as GM and Toyota.
Despite Musk’s downfall on Monday, he is still more than $ 20 billion richer than the third-richest man in the world, French luxury tycoon Bernard Arnault (today valued at $ 154.6 billion).