Tesla and SpaceX CEO Elon Musk is no longer the world’s richest person. As it has happened previously as well, due to Musk’s own Tweets, the shares of Tesla shares slid by 8.6% on Monday. Due to Tesla’s share falling, a whopping $15.2 billion was wiped from Musk’s fortune. It should be noted that the 8.6% fall is the biggest ever decline in Tesla’s share’s value since September 2020.
Elon Musk is known to single-handedly save companies, increase the price of cryptocurrencies and shift the market’s view to a specific direction through his influence. This time, however, Musk found himself to be stumbling from the leading position in the world’s richest people list when he tweeted saying the prices of cryptocurrencies “do seem high”.
Bitcoin has surged more than 400% over the past year, but after Musk’s comment, it tumbled even deeply for a second day in its bearish rally. At one point, the cryptocurrency slipped below $50,000 due to Musk’s skepticism over its durability.
That said, BTC & ETH do seem high lol
— Elon Musk (@elonmusk) February 20, 2021
Although Musk wrote ‘lol’ in his tweet, the events that ensued after that must not have been laugh-out-loud for the innovator billionaire at all.
As Tesla has already announced that it has invested $1.5 billion in Bitcoin, a comment claiming the company’s owner himself thinking that the value of the currency is too high alarmed people. This alarm caused Tesla’s shares to fall down and also helped Amazon founder Jeff Bezos reclaim his position as the world’s richest person.
Currently, Musk has a net worth of $183.4 billion which is down from his $210 billion in January. Meanwhile, American retail and e-commerce giant Amazon’s founder Jeff Bezos is back on the top spot in the enviable list with $186.3 billion in his bag. It should be noted that Musk and Bezos have been contending for the top spot in the list since the last month. Every time Musk breaks a piece of explosive news, he plummets up and down the list and swaps places with Bezos.
Meanwhile, Microsoft founder and philanthropist Bill Gates is safe and secure on the third position in the list. According to Bloomberg’s Billionaire Index, Bill Gates’s net worth is $135.3 billion which is quite less than Musk or Bezos and yet, more than Bernard Arnault or Mark Zuckerberg who are trailing behind him.
Bernard Arnault is the chairman and CEO of LVMH Moët Hennessy – Louis Vuitton SE with a net worth of $ 117.6 billion and is in the fourth position while social-media entrepreneur extraordinaire Mark Zuckerberg is just shy of having more than $100 billion as his net worth ($98.9 billion). The Facebook founder is in the fifth position of the world’s richest person.