Elon Musk falls to the second richest person in the world after his fortune falls by nearly $ 14 billion in one day

After a brief stint as the richest person on the planet, billionaire Tesla Elon Musk is again the second richest person in the world after his fortune fell by almost $ 14 billion in one day.

The shares of its electric vehicle maker Tesla fell nearly 8% on Monday, pushing Musk’s net worth down by $ 13.5 billion to $ 176.2 billion. After overtaking Amazon CEO Jeff Bezos, as the richest person in the world last Friday, Musk fell back to second place, according to Forbes‘estimates.

He is now about $ 6 billion behind Bezos, who has a net worth of $ 182.1 billion. Amazon’s shares fell more than 2% on Monday, reducing Bezos’ net worth by $ 3.6 billion.

Throughout 2020, Musk received several tranches of options worth billions of dollars each, while Tesla achieved several market capitalization and EBITDA milestones. Tesla’s board of directors certifies the granting of each tranche and then issues a statement in a regulatory document with the Securities and Exchange Commission. Musk appears to be eligible for another 8.44 million option tranche – worth about $ 6.25 billion at Monday’s closing price – but Forbes has not yet assigned these options to Musk because the board has not publicly certified them. (Bloomberg appears to count Musk’s latest tranche of options in its equity calculations for Musk.)

Fueled by the skyrocketing Tesla stock price, Musk’s fortune has increased by about $ 150 billion since March 2020, when it was worth $ 24.6 billion. Tesla’s shares rose more than 720% in 2020 and have already gained another 12% in the first week of 2021. Tesla entered the S&P 500 Index at the end of December 2020, a move that also raised shares. The world’s most valuable automaker, Tesla produced half a million cars in 2020 – a fraction of the output of global giants like GM and Toyota.

Despite Musk’s fall on Monday, he is still about $ 20 billion richer than the world’s third richest person, French luxury mogul Bernard Arnault (worth $ 154.6 billion today).