Elon Musk, the CEO of Tesla, has slipped to the third number, in the Forbes billionaire rankings following a recent drop in Tesla shares. The billionaire lost $6.2 billion by the end of the day on Wednesday.
According to the Forbes’ real-time billionaire’s list, Musk’s total wealth has dropped dramatically since January, when he was estimated at around $197 billion, and after a recent drop, Musk is now valued at $150.900 billion.
While Amazon’s CEO Jeff Bezos is still standing firmly at the number one position with a worth of $175.4 billion. The second spot has now been claimed by Bernard Arnault, the owner of the LVMH conglomerate, who has a fortune of $ 155.600 billion. For the record, the LVMH group encompasses over 70 luxury brands including Fendi, Givenchy, Louis Vuitton, Christian Dior, Marc Jacobs, Fenty Beauty, Bvlgari, Tiffany & Co, and Sephora.
Musk’s fortune was estimated at $166.1 billion when he lost $15.2 billion in a single day when Tesla shares plunged 25%. It was said that Musk’s tweet also contributed to this decline. As a result, the 49-year-old billionaire fell to second place on the list of the world’s wealthiest people after this tremendous drop.
It goes without saying that the rise and fall of Musk’s wealth and (Tesla’s shares) are only a matter of time as it is part of the stock market. Therefore, Tesla’s shares may rise in the upcoming days refueling Musk’s wealth, but for the time being, he will have to hand over this throne to another billionaire.
