Bloomberg Billionaires Index List Revealed; Elon Musk Loses World’s Richest Tag

Story Highlights
  • Tesla CEO Slipped to the second post
  • Net worth reduced by a whopping $15.2 billion
  • Bezos conquers the first position again


World: Tesla witnessed the biggest decline since September 2020 on Monday.  A huge decline in its price value was noticed since September 2020. The decline was fuelled by Musk’s comments on Saturday that the prices of Bitcoin and Ether “do seem high.”

Elon took to Twitter after Tesla announced it added $ 5.1 billion to its balance sheet. Bitcoin, the world’s biggest cryptocurrency, slid as much as 12.5% to $48,071 Tuesday after a bout of volatility highlighted doubts about the durability of the token’s mesmerizing rally. 

Another trigger for the decline of Tesla was revealed by Elon on Twitter that said Model Y Standard Range SUV ‘off the menu. because it doesn’t meet the company’s “Standard of Excellence.” 

The former E-commerce owner Jeff and Elon have been swapping positions in the richest billionaires. Musk dropped to the second rank on the Bloomberg Billionaires Index of the world’s 500 richest people with a net worth of $183.4 billion from a pinnacle of $210 billion at the beginning of the year.

Jeff reclaimed his post even as his fortune fell by $ 3.7 billion to 186.3 billion on Monday. Musk briefly took over the E-commerce billionaire after his rocket company SpaceX raised $850 million valuing the company 60% higher. Jeff has occupied the top rank three years straight until Elon eclipsed the e-commerce titan with his whooping 794% rally in Tesla shares.

The market closure on Monday pulled down the world’s ultra-richest people; amongst whom Zhong Shanshan, Colin Huang, Mukesh Ambani, and Pony Ma are included.

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