Tesla and SpaceX CEO Elon Musk no longer world's richest person: Details here

After having a dream run at the billionaire Index, Tesla and SpaceX CEO Elon Musk has lost the crown of being the world's richest person. His position has now fallen back to second place after topping Forbes' rich list for a few days. Musk is now the second richest person, behind Amazon CEO Jeff Bezos after the shares of his electric vehicle company Tesla slipped this Monday.

Monday's sharp drop wiped off Musk's fortune by USD 13.5 billion. Musk overtook Amazon founder Jeff Bezos as the world's richest man with a whopping $195 billion net worth last week.

A 4.8 percent rally in Tesla's share price took Musk past Bezos who has held the top spot since October 2017.

Musk's net worth increased by more than $150 billion this year and Tesla's share price surged a massive 743 per cent last year.

For the uninitiated, Musk has finally entered India by registering Tesla as a company in Bengaluru, thus ending years of wait and speculation. Tesla registered its Indian subsidiary with the Registrar of Companies (RoC) in Bengaluru on January 8, with Rs 15 lakh authorised capital and Rs 1 lakh paid-up capital. Tesla India Motors and Energy Ltd has been opened in the city centre, with Vibhav Taneja, Venkatrangam Sreeram and David Jon Feinstein as its directors. Tesla is also in touch with other state governments like Maharashtra, Gujarat, Tamil Nadu and Andhra Pradesh to start its India operations.