After Elon Musk threatened to establish the third U.S. political party, the "American Party," over the weekend, Tesla's (TSLA.O) stock price plummeted nearly 7% on Monday, with the world's richest man's net worth evaporating by approximately $15.0 billion in a single day. This is almost equivalent to the total market cap of Tesla's competitor, Rivian.

According to Forbes' estimates, with the decline in Tesla's market value, Musk's personal wealth is currently $391.0 billion, down from $405.0 billion the previous day. Despite the decline, he still maintains a lead of over $100.0 billion compared to the second-richest person.