Tesla CEO is no longer the richest person in the world after Tesla’s shares slid down by 8.6% on Monday.

Tesla faced its biggest decline since September after Musk commented that the prices of Bitcoin “do seem high.”

His comments came two weeks after Tesla announced $1.5B to be added in Bitcoin.

Musk has defended Tesla’s purchase which has ignited mainstream interest in the digital currency.

The cryptocurrency Bitcoin has surged by more than 400% over the last year. However, it tumbled down to below $50,000. Tesla’s shares also continued their slide in its early trading in New York, falling by 5.2% to $677.50.

Musk has dropped fin the Billionaires index from $210 billion in January at his peak to $183.4 billion.

Jeff Bezos claims the position on the top with $186.3 Billion despite its fall by $3.7Billion.