How Should We Detect and Treat the Outliers?

How do we need to detect outliers? How do we need to treat the outliers? An outlier is that datapoint or observation which behaves very differently from the rest of the data. If we are finding the average net worth of a group of people, and if we find Elon Musk in that group, then the complete analysis will go wrong because of just one outlier. This is a reason why outliers should be treated properly before building a machine learning model.