As of last month, the multibillionaire is thought to have had a net worth of around $232 billion, but his huge wealth has recently taken a dramatic hit.

On Thursday (19 October), Tesla released its 2023 third-quarter earnings report, and its underwhelming to say the least.

The report found that quarterly sales had dropped to 435,059 vehicles, despite the fact Musk has drastically dropped the prices of the cars.

Since the report was released earlier this week, Tesla stock prices have also dropped by 9.3 percent.

According to Forbes, the tech mogul's net worth still stands at a hefty $225.2 billion which means he keeps the title of 'world's richest man' - for now. Bernard Arnault & family comes in at second with $174 billion while Jeff Bezos is in third with $148 billion.