Tesla stock tumbles, Elon Musk no longer world’s richest person

The value of Tesla stock has fallen more than 20 per cent since January, relegating CEO Elon Musk to second place on the international rich list. On 8 January 2020 – less than two months ago – shares in the electric vehicle manufacturer were valued at an all-time high of US$880.02 (AU$1108). However, by February 23 that price had fallen 20.68 per cent to US$698.84 (AU$879.88).