Elon Musk hopped on Thursday over Jeff Bezos as the richest man in the world, but on Monday he already dropped to second place due to falling Tesla shares. On Wednesday he is back in the lead.
According to the Forbes business magazine, which compiles the list of the richest people, Musk now has a fortune of 176.2 billion, while Amazon CEO Jeff Bezos can write $ 182.1 billion to his name.
Last Thursday, Musk had increased his net worth to $ 188.5 billion. But a sharp fall of the Tesla stock on Monday immediately put an end to that. The stock then fell 8 percent, its strongest decline since the end of September. As a result, Musk lost $ 13.5 billion and his net worth rose to $ 176.2 billion. On Wednesday, however, he already had $ 183.8 billion in his portfolio, according to Forbes.
Musk barely pays himself any wages, but he mainly owns a lot of shares in his companies Tesla and SpaceX. He owns 20 percent of the automaker Tesla and 48 percent of the space company SpaceX. In addition, he also has options on 57 million Tesla shares exercised over the past and coming years and will receive free shares if the company achieves certain goals.
Considering that the Tesla share went 740 percent higher in 2020, he has already made a considerable contribution. But that also works the other way around, of course: if the shares fall seriously, he will lose a large amount of money on paper. But as long as he doesn’t sell those shares, of course he doesn’t have that money in his hands.