The 49-year-old business magnate has now fallen to second place on the Bloomberg Billionaires Index of the world’s 500 richest people with a net worth of $183.4bn (£129bn) – a significant drop from a peak of $210bn (£148bn) in January.
Amazon founder Jeff Bezos reclaimed the top spot, despite his own fortune dipping by $3.7bn (£2.6bn) to $186.3bn (£131bn) on Monday.
The two have been head-to-head since the beginning of the year, with Musk briefly overtaking Bezos after his rocket company SpaceX raised $850m (£599m) earlier this month, with the company being valued at $74bn (£52bn).
