Elon Musk's Net Worth is Plummeting
Elon Musk has had a rough couple of weeks. On February 17, he was the richest person in the world with a net worth of $191 billion. According to Forbes' real-time billionaire ranking, as of March 5, Elon Musk's net worth is now $150.9 billion. Although Musk is still worth an enormous sum, a massive decrease of more than 20 percent in a little more than 2 weeks is significant.
Today alone, Musk's net worth has declined by $4.5 billion. Most of Musk's net worth is comprised of stakes in his company Tesla. Since early February, Tesla shares have fallen more than 30 percent. The overall stock market has been selling-off as investors grow concerned about inflation.
Musk now ranks as the third richest person in the world. He now trails French businessman Bernard Arnault, the owner of LMVH and Jeff Bezos, the owner of Amazon.com Inc. Arnault's net worth currently amounts to $155.6 billion while Bezos retook the throne with a net worth of $175.9 billion.