Musk is still the richest man by far when you realize that the company that puts more payload into orbit every year than the rest of the world combined, the privately held SpaceX, has no public valuation and is largely owned by Musk. Plus Starlink.
Unrealized riches. He actually doesn't have lots of cash in hand. It is mostly in promised stock sales that are unrealized until sold. And he is encumbered with lots of debt for money he plowed into his ventures. If he sells any stock, analysts beat him down for impacting stock prices of his companies.
Having said that, Tesla stock is undervalued, and may rise from $200 a share to $2000 a share by 2027. All the company fundamentals are strong, with the Tesla energy sector soon surpassing the vehicle profits, not to mention AI, robotics, robo-taxis and patent profits greatly expanding. Soon, Musk will be worth over $1 trillion in riches.
SpaceX has been plowing billions of dollars into the StarShip program and Starbase. CEO Gwynne Shotwell is largely responsible for seeking business profits to keep SpaceX alive. Not only from getting lucrative contracts for launches of Falcon 9 and Dragon missions, but building out Starlink which is becoming very profitable now. Musk puts the right people in management positions, who keep the companies profitable.