Elon Musk falls to second richest person in the world after his fortune drops nearly  billion in one day

Elon Musk falls to second richest person in the world after his fortune drops nearly $14 billion in one day

After a brief stint as the wealthiest person on the planet, Tesla billionaire Elon Musk is again the second-richest person in the world after his fortune fell by nearly $14 billion in one day.

Shares of his electric-vehicle maker, Tesla, fell by nearly 8% on Monday, pushing Musk’s net worth down by $13.5 billion, to $176.2 billion. After briefly overtaking Amazon CEO Jeff Bezos as the world’s richest person last Friday, Musk has again fallen to second spot, according to Forbes’ estimates.

He is now about $6 billion behind Bezos, who has a net worth of $182.1 billion. Shares of Amazon fell by more than 2% on Monday, lowering Bezos’ net worth by $3.6 billion.

Over the course of 2020, Musk received several tranches of options worth billions of dollars each as Tesla hit various market capitalization and EBITDA milestones. The board of directors of Tesla certifies the award of each tranche, and then issues a statement in a regulatory filing with the Securities and Exchange Commission. Musk appears 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 the board hasn’t publicly certified them. (Bloomberg appears to count Musk’s latest tranche of options in its net worth calculations for Musk.)

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