Tesla's founder Elon Musk is no longer the second richest person in the world

Mar 5, 2021

By: Navdeep Yadav

​According to Forbes, Musk's net worth plummeted $6.2 billion in one day…

Luxury goods company CEO Bernard Arnault took over his place with a net worth of $155.6 billion.

Credit: BCCL

Forbes estimates Musk's current net worth at $150.9 billion

Credit: BCCL

Musk's overall net worth has fallen dramatically since the beginning of 2021

Credit: BCCL

​In early January, the South African-born entrepreneur took over Jeff Bezos to become the richest...

His net worth was then estimated at $187 billion, and by mid-January, he touched the $200 billion mark for the first time.

Credit: BCCL

​The reason behind the fall of the 49-year old billionaire...

Tesla shares which were soaring high in the sky, have seen a significant fall in recent months.

Credit: BCCL

​Musk's losing streak began on Wednesday…

When the US stocks started in negative territory as bond yields marched higher and fresh economic data suggested a tepid recovery.

Credit: BCCL

​The stock plummeted more than 5 percent yesterday…

While the broader US-index, Nasdaq Composite, was down about 2 percent on Thursday.

Credit: BCCL

​Last week, Musk lost his position as the world's richest person after shedding $15 bn of his net worth.

The fall came after he tweeted that the prices of Bitcoin and its rival Ether "do seem high."

Credit: BCCL

​Musk had invested around $1.5 billion in the crypto giant Bitcoin just a month ago.

Tesla shares plunged more than 25 percent after Musk's tweet — making the company lose $200bn in market value.

Credit: BCCL

Headaches, acidity, eyesight issues & more — working for over 52 hrs/wk is taking its toll on Indian techies