Elon Musk has lost his position as the world’s third-richest person to Mark Zuckerberg, who now has a fortune of $175 billion. This year, Zuckerberg has gained $47 billion in wealth while Musk has lost $55 billion, according to data from Bloomberg. The shift in wealth is primarily due to Meta Platforms stock soaring and Tesla shares plunging.
Zuckerberg’s net worth slightly overtook Musk’s net worth of $174 billion. However, this gap is expected to widen as Tesla shares decline to a new 52-week low and Meta Platforms stock reaches all-time highs. Year-to-date, Zuckerberg has added $47.3 billion to his net worth while Musk’s net worth has declined by $55.2 billion, moving him from the world’s richest person to the world’s fourth richest person.
Musk remains ahead of Bill Gates, with a fortune of $149 billion, while Zuckerberg trails behind Jeff Bezos and Bernard Arnault. The shift in fortunes is primarily driven by the performance of their respective stocks. Meta Platforms has seen a 43% surge in stock price this year, while Tesla shares have dropped nearly 40%.
Despite their differences in wealth and business ventures, both Musk and Zuckerberg have had public disagreements in the past, with talks of a cage match that never materialized. As they continue to compete for the top spot on the list of the world’s richest people, it will be interesting to see how their fortunes change over time based on their respective company performances.
