Elon Musk has been surpassed by Mark Zuckerberg to become the world’s third-richest person, with a $175 billion fortune, according to Bloomberg data. Zuckerberg’s wealth has increased by $47 billion this year, while Musk has seen a decrease of $55 billion. The shift in wealth is a result of Meta Platforms’ stock skyrocketing and Tesla’s shares plummeting.
Meta Platforms’ stock performance has propelled Mark Zuckerberg ahead of Elon Musk to claim the title of the world’s third-richest person, with a net worth of $175 billion. This gap is expected to widen further as Tesla shares fall to a new yearly low while Meta Platforms stock continues to soar. Throughout this year, Zuckerberg has added $47.3 billion to his net worth, whereas Musk has experienced a decline of $55.2 billion, dropping him from the top spot to the world’s fourth-richest person.
The fluctuation in fortunes for Musk and Zuckerberg correlates directly with the performance of their respective stocks. A 43% surge in Meta Platforms shares contrasts with a nearly 40% drop in Tesla shares year-to-date. Zuckerberg’s wealth primarily stems from his ownership of Meta Platforms stock, where he holds around 13% of the company. Conversely, Musk has various business ventures contributing to his fortune, including Tesla, SpaceX, and X.
Despite their differences in opinion and past disagreements that led to an agreement for a cage fight last year that never came through, both tech moguls continue to shape the landscape of the global economy with their innovative companies.
