It Was Not To Last! How Elon Musk Has Been Overtaken By Jeff Bezos Again!
Denis Kihiu Gathura
Jan. 14, 2021
He was not to hold the title of the world richest man for long! Tesla Head Elon Musk is again the second wealthiest person in the planet after his fortune dropped by nearly $14 billion in a day.
It was on Monday when the shares of his electric cars company dropped by $13. 5 billion, down to $176. 2 billion. This means that he only briefly overtook Amazon head Jeff Bezos as the world' s wealthiest man last week and this week Musk has again fallen to second place.
Bezos whose net worth is $ 182. 1 billion is now around $6 billion ahead of Musk. Shares of Amazon dropped by not less than two percent on Monday, lowering Bezos' net worth by $3. 6 billion.
All around 2020, Musk received several bunches of options worth billions of dollars each as Tesla hit various market capitalization and EBITDA milestones. The board of directors of Tesla has the task of certifying the award of each tranche, consequently gives a statement in a regulatory filing with the Securities and Exchange Commission. Musk seems to be eligible for another tranche of 8. 44 million options— worth around $6. 25 billion as of Monday' s closing price— but Forbes hasn' t yet attributed these options to Musk because they are yet to be certified by the board of directors.
It is the rising value of Tesla shares that has seen Musk wealth grow bu around $ 150 billion since march 2020 being at around $24. 7 billion in the same March. Tesla' s stock rose not less than 720% in 2020 alone, and has already earned another 12% in the first week of 2021. Tesla joined the S& P 500 Index in late times of 2020, an act that saw the fortune grow significantly too. The planet' s highly valued automaker, Tesla produced five hundred thousand cars in 2020— a fraction of the production at global giants like GM and Toyota.
However, Musk is still keeping a distance of some $20 billion from the third wealthiest person in the planet, French luxury tycoon Bernard Arnault whose net worth is $154. 6 billion as at now.