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Tesla shares fall, Elon Musk is no more the richest man on Earth

Jan 12, 2021 20:19 IST

Days after Tesla CEO Elon Musk was declared the richest man in the world, the billionaire entrepreneur has slid down to the second position, making Amazon CEO Jeff Bezos the winner. Musk's rank fell down due to a sudden fall in price of Tesla shares which wiped out $13.5 billion from his fortune on Monday. Tesla’s shares fell by 8%, their largest one-day fall since last September, pushing its CEO's total wealth down to $176.2 billion compared to Bezos' $182.1 billion fortune. However, the Tesla owner continues to top the Bloomberg’s Billionaires Index with $194 billion, above Bezos.

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