Elon Musk's wealth dropped by $20.3 billion following Tesla's announced potential price cuts, the seventh-largest ever dip in the Bloomberg Billionaires Index.
The gap between Musk's fortune and Bernard Arnault's narrowed, but Musk still leads by $33 billion. Musk and Arnault are competing for world's richest person.
Other US tech billionaires including Jeff Bezos, Larry Ellison, Steve Ballmer, Mark Zuckerberg, Larry Page and Sergey Brin collectively lost $20.8 billion as Nasdaq 100 fell 2.3%.