[TechWeb] On July 9, according to foreign media reports, driven by a continuous surge in stock prices, Tesla CEO Elon Musk's worth also rose sharply, but on Wednesday, the stock price fell, which also caused Musk's value to shrink by 700 million US dollars.

When the US stock market closed on Wednesday, Tesla reported $1365.88, down $23.98 from $1389.86 at the close of the previous trading day, or 1.73%.

Since Musk holds a large number of company stocks, Tesla's stock price falls, and Musk's value will also shrink. Tesla disclosed in documents submitted to the US Securities and Exchange Commission at the end of May that Musk holds 386.5867 million Tesla shares.

According to data from the Forbes real-time rich list, Musk's worth shrunk by 746 million US dollars on Wednesday, with an overall value of 53.8 billion US dollars.

However, even though Musk's worth shrank by more than 700 million US dollars on Wednesday, he was still in the top 20 on the Forbes real-time richest list, and ranked 19th on Wednesday.

Ahead of Musk was Robertson Walton of the Walton family. He is the eldest son of Walmart founder Sam Walton. At the end of Wednesday, his worth was 54.8 billion US dollars, 1 billion US dollars higher than Musk.