Elon Musk Drops To No.3 In The 'Richest Man In The World' List
- Musk has lost $9.1 billion in 2021 while Arnault gained $47 billion
- Musk's wealth is connected to Tesla whose stock has dropped
- Tesla gained in 2020, but the semiconductor shortage has caused issues
Elon Musk had overtaken Jeff Bezos in March as the richest man on the planet after overtaking Bill Gates as the 2nd richest in 2020 but now he's down to number 3 on the list, overtaken by Bernard Arnault, the LVMH chairman.
Elon's wealth declined as Tesla's stock dropped by 2.2 per cent. Musk's wealth is very closely linked with the electric car maker's valuation. In 2020, Tesla became the most valuable carmaker.
Musk's fortune is now worth $160.6 billion, only beat by Jeff Bezos, the Amazon founder and Bernard Arnault of LVMH. Chances are that Musk will likely overtake Arnault again considering his bets in Dogecoin, Tesla and SpaceX.
Musk has lost $9.1 billion 2021 based on fluctuating valuations of his companies
The drop also follows bitcoin tumbling 15 per cent in value after Musk's statement on Twitter where he claimed that Tesla would stop accepting the currency.
Musk also indicated that he would sell his Bitcoin holdings but he clarified that his company had not done so. Tesla's stock has generally been surging -- increased more than 750 per cent but its stocks have started to drop because of the global semiconductor shortage which is expected to spill over to 2023.
In 2021, Musk's fortune has dropped by $9.1 billion while the 72-year-old Arnault has seen his fortune increase the most by $47 billion as the sales of LVMH group's luxury items surge in China and other parts of Asia.
Related News
Popular Tesla Models
Latest Cars
Upcoming Cars
Latest News
car&bike Team | May 15, 2026Norton Manx R's Made-in-India V4 Engine: All You Need To KnowThe 1,200cc, 72-degree V4 engine of the Norton Manx R is perhaps the most sophisticated and powerful motorcycle engine built in India.1 min read
car&bike Team | May 15, 2026Norton Atlas To Be Fully Built In India Before LaunchThe Norton Atlas and Atlas GT will be the mid-size adventure touring models, which will be the first Norton models to be completely manufactured in India.1 min read
Hansaj Kukreti | May 15, 2026King's New Ride: Shah Rukh Khan Adds Rs 5 Crore American SUV Cadillac Escalade To His GarageBollywood star Shah Rukh Khan was recently spotted on the streets of Mumbai being driven around in a luxurious full-size SUV, and videos of the car have gone viral across social media.1 min read
car&bike Team | May 15, 2026Defender Leads JLR Volumes In India As Overall Sales Decline In FY26The brand has recorded a 14 per cent revenue growth, with the Range Rover, Range Rover Sport and Defender being the most popular models1 min read
Jaiveer Mehra | May 15, 2026Tata Sierra EV Launch Confirmed For July-September Quarter; 2 New Nameplates Coming In 2026The launches in 2026 are expected to include the Punch & Punch EV facelifts with the Sierra EV and the Avinya EV expected to be the all-new nameplates.3 mins read
car&bike Team | May 15, 2026Norton Manx R India Launch ConfirmedThe Norton Manx R, the brand’s flagship V4 engine superbike, will be launched in India, very soon, according to TVS Motor Company.3 mins read
Preetam Bora | May 11, 20262026 Suzuki Burgman Street 125 Review: What’s Good, What’s Not?The new Suzuki Burgman Street 125 gets refreshed design, minor but meaningful tweaks to the engine, a stiffened chassis, new features and more. But is it worth recommending? Read on, to find out.8 mins read
Bilal Firfiray | May 11, 2026Audi SQ8 Review: The Performance SUV That Actually Makes SenseThe Audi SQ8 has the performance of a V8 seamlessly combined with the everyday luxury and comfort, making it one of the most complete performance SUVs on sale in India today.5 mins read
Jafar Rizvi | May 3, 2026River Indie Gen 3 Long Term Report: 1 Month, 400 km AfterAfter a month and 400 km, the River Indie impresses with its utility-first approach, smooth ride and standout design, despite a few everyday usability compromises.8 mins read
Bilal Firfiray | May 2, 2026Volkswagen Taigun Facelift Review: Still The Driver’s SUV, But Improved!The updated Volkswagen Taigun gets a new 8-speed automatic, a refreshed design, and added features. But does it still deliver the best driving experience in the C-SUV segment?5 mins read
Shams Raza Naqvi | Apr 29, 2026Toyota Innova Hycross Vs Mahindra XEV 9S: Choosing The Right Three Row Family MoverIn a battle of three-row cars the electric Mahindra XEV 9S takes on the Toyota Innova Hycross. Which one ticks more boxes?1 min read