After briefly topping Forbes' list of the richest people, Elon Musk fell back to second place, behind Amazon CEO Jeff Bezos. Tumbling shares of Tesla, his electric-vehicle company, on Monday chopped $13.5 billion off his fortune.
Musk on Thursday became the world's richest person; his fortune grew by more than $150 billion in a year.
But Tesla shares fell by nearly 8% on Monday, their largest one-day fall since late September. Based on Forbes' estimates, this pushed his total wealth down to $176.2 billion, compared with Bezos' $182.1 billion fortune.
Despite Musk's wealth loss, his net worth is still $20 billion above Bernard Arnault, the CEO of the French luxury-goods conglomerate LVMH and the world's third-richest person, according to Forbes' estimates.