Tesla CEO Elon Musk No longer Richest Person In The World

Tesla CEO Elon Musk No longer Richest Person In The World

The world was surprised recently when South African born Tesla Inc. CEO Elon Musk became the richest person in the world, with a net worth of more than $185 billion.

Elon Musk has however set a record for holding on to that position for just four days. However, Tesla shares uncontrollably plummeted overnight making him lose over $14 billion dollars.

He had just taken over the top spot from Amazon founder Jeff Bezos, who has since taken back the spot he has always been since 2017.

According to CNBC, due to last Thursday’s increase in Tesla’s share price, Elon Musk pushed past Amazon founder Jeff Bezos. with over a billion.

Forbes has however reported that on Monday, Tesla shares sadly fell by almost 8% reducing his net worth to $176.2, making him the second world’s richest man on the planet with $6 billion less of Bezos’ $182.1 billion.

The current world’s richest man was also not spared from Monday’s curse. Forbes has estimated that Bezo lost $3.6 billion from his net worth after shares at Amazon fell by more than 2%.

Both men benefited most from the coronavirus pandemic.

Jeff Bezos’s company saw an increase in demand for both its online store and cloud computing during this time and made over $40 billion.

Elon Musk’s Tesla company saw him move his networth from just $27 billion to more than $150 billion after Tesla’s rocketing share price increased by more than 743% under lockdown.

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