Elon Musk no Longer the World's Richest Man Alive: Tesla's stock drop

Elon Musk has been dethroned as World's Richest Man as Tesla's stock dropped on Monday, leaving Musk with an estimated worth of $181.3 Billion, a drop of $7.4 billion.

Highlights

1. Elon Musk is no longer world's richest man alive.
2. Tesla's stock dropped on Monday, leaving Musk with an estimated net worth of $181.3 billion.
3. Bernard Arnault, Chairman and CEO of LVMH Mot Hennesy- Louis Vuitton, is now the richest person.

Elon Musk is no longer the world's richest man.

According to Forbes, Tesla's stock dropped on Monday, leaving Musk with an estimated net worth of $181.3 billion (£146.5 billion / €170.5 billion). That was a drop of $7.4 billion (£5.9 billion / €6.9 billion), making the Chief Twit the world's second richest person.

Bernard Arnault, co-founder, chairman, and CEO of LVMH Mot Hennessy - Louis Vuitton SE is now the world's richest person. According to Forbes, he ended Monday with a net worth of $186.2 (£150.2 / €175) billion, putting him $4.9 (£3.9 / €4.6) billion ahead of Musk.

While the outspoken executive will not be forced to clip coupons anytime soon, his fall from grace has been long in coming. Tesla's stock price has dropped more than 50% in the last year, and it is currently trading at $160.44 (£129.71 / €150.93) per share. That's a far cry from Musk's original plan to take Tesla private for $420 (£339.66 / €395.17) per share when he famously claimed: "funding secured."