Musk, who became the richest person in the world on Friday, according to Forbes, loses his place after that … [+]
Yasin Ozturk / Anadolu Agency through Getty Images
After a short time as the richest person on the planet, Tesla billionaire Elon Musk is again the second richest person in the world after his fortune fell by almost $ 14 billion in one day.
Shares of its electric vehicle maker Tesla fell nearly 8 percent in the month, pushing Musk’s net worth by $ 13.5 billion to $ 176.2 billion. After briefly overtaking Amazon CEO Jeff Bezos as the richest person in the world last Friday, Musk fell back to second, according to Forbesestimates.
It is now behind Bezos with about $ 6 billion, which has a net worth of $ 182.1 billion. Amazon shares fell more than 2% month-on-month, reducing Bezos’ net worth by $ 3.6 billion.
During 2020, Musk received several tranche of options worth billions of dollars each, while Tesla reached various stages of market capitalization and EBITDA. Tesla’s board of directors certifies the allocation of each tranche and then issues a statement in a regulatory document to the Securities and Exchange Commission. Musk appears to be eligible for another $ 8.44 million tranche – worth about $ 6.25 billion since Monday’s closing price – but Forbes it 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 net worth calculations for Musk.)
Fueled by rising Tesla stock prices, Musk’s wealth has risen by about $ 150 billion since March 2020, when it was worth $ 24.6 billion. Tesla shares rose more than 720% in 2020 and have already gained another 12% in the first week of 2021. Tesla joined the S&P 500 Index at the end of December 2020, a move that led to the shares above. The world’s most valuable carmaker, Tesla, will produce half a million cars by 2020 – a fraction of the production of global giants such as GM and Toyota.
Despite Musk’s decline on Monday, he is still $ 20 billion richer than the third richest person in the world, French luxury mogul Bernard Arnault (worth $ 154.6 billion today).