Elon Musk's net worth falls below $200 Billion

SpaceX and Tesla CEO Elon Musk fortune tumbled by $13.3 billion on Wednesday to $198.6 billion. According to the Bloomberg Billionaires Index, his net worth has now come down to less than $ 200 billion. His net worth has declined by $71.1 billion this year. Musk's net worth reached $340.4 billion on November 4 last year, but has since fallen by more than $140 billion.

Rising tensions between Russia and Ukraine have plunged stock markets around the world, and Musk's electric car company Tesla also suffered. Tesla shares fell for the fourth day in a row on Wednesday, hitting their lowest level since September. This caused a huge drop in Musk's net worth. However, he still remains the world's richest man with a net worth of $198.6 billion.

Amazon founder Jeff Bezos is second in the list of the world's rich with a net worth of $ 169 billion. In April last year, his net worth crossed $ 200 billion and he was the first billionaire in the world to achieve this feat. But since then his net worth has declined. Bezos's net worth has declined by $22.9 billion this year.

According to the Bloomberg Billionaires Index, French businessman and chairman of the world's largest luxury goods company LVMH Moët Hennessy Louis Vuitton, Bernard Arnault ($155 billion) is third in this list and Microsoft's co-founder Bill Gates ($122 billion) is at number four.