Elon Musk Ranks Back To Second Richest Person In The World

Not long ago, Tesla Boss – Elon Musk was entitled as the world’s richest person, and now he is again listed as the second richest person, while Amazon founder Jeff Bezos reclaims the top spot according to Forbes. However, Musk is still the richest man, according to Bloomberg. The site had revealed the Tesla founder as the wealthiest person in the world on January 7.

Only on January 8, Forbes had revealed Elon Musk as the richest person in the world. And, as of Monday, January 11, he has fallen back to the second wealthiest person across the globe after his net worth dropped by nearly $14 billion in just one day.

On Monday, shares of his electric vehicle company – Tesla, fell by nearly 8%, deducting Musk’s fortune by $13.5 billion to $176.2 billion. 

Meanwhile, Amazon boss Jeff Bezos is the richest person in the world with a net worth of $182.1 billion, about $6 billion more than Musk’s net worth. However, shares of Amazon also fell by more than 2% on Monday, pushing Bezos’ net worth down by $3.6 billion. 

Musk’s fortune is mostly contributed by Tesla’s share price which increased by more than 720% in 2020. Since March 2020, Musk’s net worth has escalated by around $150 billion. Before March his net worth was only $24.6 billion. The largest electric car manufacturer – Tesla joined the S&P 500 Index in late December 2020, which has influenced the company’s stock value to rise. The company also manufactured half a million cars in 2020.

The first week of 2021 fared well for the world’s most valuable automaker, as the company saw a 12% rise in its share price. The soar in price is believed to be influenced by the Democratic victories in Georgia to form the US Senate which is expected to join the green agenda.  However, the stock is experiencing some fall off recently. 

Elon Musk – still the world’s richest person on the Bloomberg billionaires index

Although Elon Musk, who also owns the rocketship company – SpaceX, is the second richest in the world according to Forbes’ estimates, he is still reigning on the first rank on the Bloomberg billionaires index as of January 12. His worth according to Bloomberg is $194 billion, around $11 billion more than the second richest Jeff Bezos. 

Over the past year, Musk received several tranches of options, each valued in billions of dollars. He is also apparently eligible for another tranche of 8.44 million options – worth around $6.25 billion as of Monday’s closing price. But, the board of directors of Tesla has not yet issued any statement certifying the award of each tranche, so Forbes has not counted the value of those options. However, Bloomberg has taken those option’s worth into account which puts Musk above Bezos on its billionaire tracker.

Image: Forbes

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