Elon Musk now number 2 richest, billionaire suffers huge loss

There has been a huge upheaval in the list of the world’s rich. Jeff Bezos has snatched the crown of the world’s richest man from Elon Musk. On Monday, a breach of $17.6 billion in the assets of Elon Musk took away his position as the number one billionaire. Now Jeff Bezos is at number one with a net worth of $200 billion. Elon Musk is now at second place in the Bloomberg Billionaires Index with a net worth of $198 billion. Bernard Arnault is at number three. He has wealth worth 197 billion dollars.
Why Musk’s property was breached: Shares of Elon Musk’s company Tesla fell flat on Monday. Tesla Inc. fell 7.16 percent to $ 188.14 on Monday. A large part of Musk’s wealth also comes from Tesla shares. This decline directly impacted Musk’s net worth. So far this year, Tesla shares have fallen by about 25%. This is the reason why Elon Musk is at the first place in the list of losers, having lost $31.3 billion so far this year. On the other hand, there has been a huge jump in the wealth of Bezos, the founder of e-commerce company Amazon, this year. His wealth has increased by more than $23 billion.