2021 came with exciting news of Elon Musk claiming the world’s richest title. The celebrated entrepreneur, car-industry wild horse, and social media influencer is also popularly known as the “Real-life Tony Stark” for his iconic similarities with the comic strip superhero.
Till Jan 10, 2021, Elon Musk enjoyed the stint as the “Wealthiest person in the world”, a title which was being held by CEO and face of e-commerce giants Amazon Jeff Bezos, for more than a year.
However, Jan 11, 2021, has been a really bad day for Elon Musk as his net worth reduces by nearly $14 billion in just one day. This huge drop in the net worth of Musk has helped Jeff Bezos reclaim his title. This leaves both the competitors remaining separated by an amount of $6 billion.
Fueled by skyrocketing share prices of Tesla Motors and Paypal, Elon Musk had seen his net worth break several records. However, as the share-prices of the new-gen battery-powered automobiles sunk, Elon suffered a heavy fall from grace. Elon Musk has also been a prominent name in the aeronautical world for his venture SpaceX, which planned on commercializing space flights and exploration of the solar system.
However, this futuristic approach of Elon has also faced severe criticism from well-renowned astrophysicists and former astronauts. The fact that knowledge of life forms outside the earth is still very new to humans and commercializing such a journey would be too risky. As a result, SpaceX too saw a downgrade in their stock price after facing mass disapproval.
Elon Musk’s net worth now sits around $176.2 billion but there is a silver lining to the cloud of sorrow for Musk. As per reports from Forbes’ on the same day, Amazon has witnessed a drop in its share value by 2%. Though it is way lesser than an 8% fall of Tesla motors yet Musk has time to push things up and make a bigger push to snatch away the title for one more time.