Elon Musk, the tech visionary and founder of Tesla, is no longer the richest person in the world according to Forbes magazine. After Tesla’s stock slid by almost 8% this week, his net worth dropped below that of Amazon founder Jeff Bezos. This marks a major shift in the rankings of the world’s wealthiest individuals and highlights the fragile nature of stock market investments. Read on to learn more about how the Tesla stock slide has impacted Musk’s wealth and why he is no longer the world’s wealthiest person.
Tesla stock prices have been volatile
The roller coaster ride that is Tesla stock has been a source of anxiety for many investors this year. On January 7th, Elon Musk surpassed Jeff Bezos as the world’s richest person with an estimated net worth of $188 billion. However, since then, Tesla stock prices have taken a sharp dive, and on March 17th, Elon’s wealth was estimated at $151 billion. This placed him in second position on the Forbes Billionaires list, behind Bezos.
Investors remain cautiously optimistic about the future prospects for Tesla stock. Despite the current volatility, analysts are still forecasting strong growth for the company. As the electric vehicle industry continues to grow and mature, it is likely that Tesla will remain a leader in the space. With increasing demand and improved profitability, it wouldn’t be surprising to see Tesla stock prices rebound. It remains to be seen if Elon will reclaim his spot as the world’s richest person.
This has caused Elon Musk to drop down on the Forbes list
The drop in Tesla stock caused the net worth of Musk to fall below Amazon CEO Jeff Bezos. Despite the significant losses, Musk is still ranked second on Forbes’ list of wealthiest people.
The recent tumble in Tesla’s stock can be attributed to multiple factors. This includes the sell-off due to reports of reduced demand for Tesla’s electric vehicles, as well as investor concerns about rising costs associated with expanding production facilities. Additionally, some analysts have speculated that Musk’s eccentric behavior might have also played a role in the drop in Tesla’s stock.
Musk is now ranked third with a net worth of $115 billion
Musk is now ranked third with a net worth of $115 billion, falling behind Bernard Arnault and Jeff Bezos. This comes after Tesla’s stock fell by more than 20%, which reduced Musk’s fortune by an estimated $16 billion.
It was only a month ago that Musk had surpassed Bezos to become the world’s richest person, and his fortune peaked at $188 billion. Since then, the shares of Tesla have dropped significantly, making it difficult for Musk to remain at the top of the list.
Jeff Bezos and Bernard Arnault are now ranked first and second respectively
The top spot was taken over by Jeff Bezos, with Bernard Arnault in the second place. This comes as a surprise to many, as only two weeks prior Musk had overtaken Bezos and was declared the world’s richest person. His wealth came from his stake in Tesla, which has seen a sharp decline in the past week.
The biggest loser in this shuffle appears to be Musk, whose net worth is now estimated to be just over $185 billion compared to his peak of over $210 billion last month. Meanwhile, Bezos’ net worth increased from roughly $184 billion to an impressive $196 billion over the same period.
It’s likely that Bezos and Arnault will remain at the top for some time, though other tech giants like Bill Gates, Mark Zuckerberg, and Larry Ellison could potentially challenge their positions if their stocks perform well. For now, however, it looks like Jeff Bezos and Bernard Arnault will continue to reign supreme in the world of billionaires.
Musk has lost $15.2 billion since January 7th
On January 7th, Elon Musk was the wealthiest person in the world according to Forbes Magazine. Unfortunately, since then, Musk has lost a total of $15.2 billion of his personal wealth. This significant drop was largely due to the decline of Tesla stock. While the company has seen an overall increase in their stock price throughout 2020, it has experienced a sharp decline in the last few months, leading to the loss of Musk’s fortune.
It is estimated that Musk’s total net worth is now around $157 billion, putting him in second place on Forbes’ Billionaires List behind Amazon CEO Jeff Bezos. Despite the recent setback, Musk still remains one of the wealthiest people in the world and continues to be a major innovator in the tech industry.
