Elon Musk no longer the world's richest man

Tesla chief Elon Musk has lost his first place on the list of the richest people in the world. Musk's Tesla shares fell 8.6 percent on Monday. As a result, Musk's fortune plummeted by $15.2 billion. As a result, Musk topped the list of richest people.

This has been the biggest decline in Tesla's value since September. The decline was fueled partially by Musk’s tweet that the prices of Bitcoin and smaller rival Ether “do seem high." The tweet came two weeks after Tesla announced it added $1.5 billion in Bitcoin to its balance sheet.

The value of cryptocurrency has increased by 400% over the last year. However, on Monday, Tuesday, the price of Bitcoin fell. At one point, it was below $50,000.

According to the Bloomberg Index, Musk's net worth now stands at $183.4 billion which is down from a peak of $210 billion in January. On the other hand, Amazon.com Inc. founder Jeff Bezos has reclaimed the top spot even after his fortune took a fall of $3.7 billion to $186.3 billion on Monday. Musk has been swapping the top spot with Bezos since January as the value of Tesla fluctuated.

That said, BTC & ETH do seem high lol

— Elon Musk (@elonmusk) February 20, 2021