Bad news for Elon Musk as he crashes from 3rd richest person to 6th

Bad news for Elon Musk as he crashes from 3rd richest person to 6th

- Elon Musk went down from the third world richest person to sixth in just days after losing a record $16.3 billion on Tuesday, September 8

- The PayPal founder also exited the centibillionaire club made up of Jeff Bezos, Bill Gates and Mark Zuckerberg, those whose nett worths are over the $100 billion mark

- With this current setback, Zuckerberg reclaimed his third position from him in the world rankings of richest people on earth

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It was a terrible day for Elon Musk, the co-founder of Tesla on Tuesday, September 8 as the company lost more than $100 billion of its market value.

With that, the tech giant lost a big one of $16.3 billion. The car company also was not included in the S&P 500 Index.

It should be noted that the loss is the biggest single-day drop ever recorded in the history of Bloomberg’s Billionaire’s Index.

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After being financially badly hit, Musk is now worth $82.2 billion, going below Bernard Arnault and Warren Buffet, who are the fourth and fifth richest men in the world.

From his third position a few days ago, he is now number six. He also lost out of the centibillionaire club, which has the like of Jeff Bezos, Bill Gates and Mark Zuckerberg.

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A collage showing the present sixth richest person in the world. Photo source: Getty Images

A collage showing the present sixth richest person in the world. Photo source: Getty Images
Source: UGC

Weeks before then, the Tesla co-founder overtook Bernard Arnault, sweeping off the fourth-richest person position after the shares of Tesla Inc. bumped up by 11% on Monday, August 17, adding $7.8 billion to his nett worth.

Meanwhile, earlier reported that Mark Zuckerberg’s fortune passed a $100 billion (N37,900,000,000,000) mark for the first time on Thursday, August 6, after his company Facebook Inc hit a record profit after the release of Reels.

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Facebook's founder joined the league of centibillionaires of Jeff Bezos and Bill Gates. It should be noted that his fortune largely comes from his 13% stake in Facebook.

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This development adds to the fact that American tech titans have had their fortune take a huge surge this year as the coronavirus pandemic makes people conduct their activities online more than before.

Another thing also worthy of note is that Zukerberg has gained about $22 billion this year alone, while Bezos is said to have raked in more than $75 billion.

In other related news, Bezos also added a whopping $13 billion to his fortune on Monday, July 20, making it the largest wealth growth for an individual since 2012.

On the same day, Amazon’s shares jumped to 7.9%, the highest it has been since December 2018.

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