Elon Musk slips to 2nd richest person in the world

After briefly topping Forbes’ list of the richest people, Elon Musk fell back to second place, behind Amazon CEO Jeff Bezos. Tumbling shares of Tesla, his electric-vehicle company, on Monday chopped $13.5 billion off his fortune.

Elon Musk’s position as the wealthiest person in the world was short-lived after his fortune fell by nearly $14 billion in one day.

The Tesla billionaire is now the second-richest person in the world. Shares of his electric-vehicle maker, Tesla, fell by nearly 8% on Monday, Jan 11.This pushed Musk’s fortune down to US$176.2 billion.

After briefly overtaking Amazon CEO Jeff Bezos as the world’s richest person last Friday, Jan 8, Musk has again fallen to second spot, according to Forbes’ estimates.

Despite Musk’s wealth loss, his net worth is still $20 billion above Bernard Arnault, the CEO of the French luxury-goods conglomerate LVMH and the world’s third-richest person, according to Forbes’ estimates.

As of Tuesday morning, Musk still topped Bloomberg’s Billionaires Index : It said he had $194 billion compared with Bezos’ $183 billion. Its calculations took into account a loss for Musk of $15.6 billion.