Cover SpaceX owner and Tesla CEO Elon Musk (Photo: Britta Pedersen-Pool/Getty Images)

The Tesla and SpaceX founder only held the title for a few days before falling back to the second richest person in the world after losing nearly US$14 billion in one day

It was only last week that Elon Musk made headlines when he dethroned Jeff Bezos as the world's richest person, a title Bezos held since 2017. But it seems that it was a short-lived title for Musk as he falls back into second place after just a few days.

The space billionaire and electric car kingpin lost nearly US$14 billion in one day after shares of Tesla fell nearly eight per cent on Monday. This pushed Musk's fortune down to US$176.2 billion. Musk briefly overtook Bezos with his US$185 billion fortune with Bezos close behind with a billion short. Now, Bezos's net worth is US$182.1 billion as Amazon shares fell by more than 2 per cent on Monday.

Despite Musk's drop in ranking, he's still approximately US$20 billion richer than the third titleholder, French luxury tycoon, Bernard Arnault who is worth US$154.6 billion.

See also: Amazon’s Jeff Bezos Sets A New Record For The Richest Person Alive

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