- Tesla CEO Elon Musk fell on the Forbes rich list from first to second, behind Amazon CEO Jeff Bezos, Forbes reported.
- The fall of shares in its electric vehicle company Tesla on Monday cut $ 13.5 billion from its fortune, according to Forbes calculations.
- Bezos regained first place with a fortune of $ 182.1 billion, according to Forbes estimates, compared to Musk’s $ 176.2 billion
- Musk receives a small salary from his companies, but has substantial stakes in Tesla and SpaceX.
- Visit the Business Insider home page for more stories.
After briefly leading the Forbes rich list, Elon Musk has now dropped to second place behind Amazon CEO Jeff Bezos after dropping shares in his electric vehicle company Tesla on Monday and slashing $ 13.5 billions of your fortune.
Musk became the richest person in the world on Thursday – the result of his fortune growing by more than $ 150 billion in one year.
But Tesla’s shares fell nearly 8% on Monday, the biggest one-day drop since late September. Based on Forbes ‘estimates, this reduced his total wealth to $ 176.2 billion, compared to Bezos’ $ 182.1 billion fortune.
Despite Musk’s loss of wealth, he is still more than $ 20 billion more than Bernard Arnault, CEO of the French luxury goods conglomerate LVMH and the third richest person in the world, according to Forbes estimates.
As of Tuesday morning, Musk was still leading the Bloomberg Billionaires Index, where he had $ 194 billion compared to Bezos’ $ 183 billion. His calculations take into account that Musk lost $ 15.6 billion from Monday to Tuesday.
Read More: How Tesla recovered from the worst mistake Elon Musk ever made and became the most valuable car company in the world
Although Musk receives a small salary from his companies, he has an approximately 20% stake in Tesla and 48% in the aerospace company SpaceX, as well as 57 million Tesla stock options, by Bloomberg.
Tesla boomed in 2020, selling almost 500,000 vehicles, and the stock price skyrocketed 740% over the year.
Your compensation package also gives you shares when Tesla achieves certain goals. That made Musk the highest-paid executive in 2020.
Musk, who is also known for his opinionated and sometimes cryptic tweets, posted a discreet response after Bloomberg declared him the richest person in the world on Thursday.
“How strange,” he tweeted. “Well, back to work …”
In December, he told Mathias Döpfner, the CEO of Insider’s parent company, Axel Springer, that he was selling all of his assets to finance a future colony on Mars.
He also sold several high-value properties, including three neighboring homes in Los Angeles’ Bel-Air neighborhood.