Tesla founder Elon Musk on Tuesday lost the title of world’s richest person to Amazon's Jeff Bezos who reclaimed his numero uno position with a net worth of $191.2 billion, Bloomberg reported.
This came as Tesla Inc. shares slid 2.4% on Tuesday, causing Musk to lose $4.6 billion in assets.
Bezos had held the title for more than three years until last month when Tesla saw a record surge, making Musk the world's richest person.
Tesla hit a market value of $700bn for the first time in January, making it worth more than Toyota, Volkswagen, Hyundai, GM, and Ford combined, and taking Musk to the No. 1 position on the Billionaires Index. Musk lasted at the position for six weeks before losing it to Bezos.
Musk has seen his fortune rise over the last year, surpassing one billionaire after another on the list. He surpassed Bill Gates to become the world’s second-richest person in November, only a week after overtaking Facebook CEO Mark Zuckerberg to become the world’s fourth-richest person.
At the start of 2020, Musk, who also founded SpaceX among other ventures, ranked 35th in the list of world's richest persons.
Meanwhile, Tesla is gearing up to set up its production unit in Karnataka. It has finally entered India by registering itself as a company in Bengaluru.
Musk said on 13 January that he is on the way to fulfil his promise to let electric cars run on the roads of India. Reacting to his 41.2 million followers, Musk tweeted on making India his next destination: "As promised."