Mark Zuckerberg Overtakes Elon Musk as World’s Third-Richest Person, with Tesla Shares Plummeting

Elon Musk has been surpassed as the world’s third-richest person by Mark Zuckerberg, who now boasts a net worth of $175 billion. This year alone, Zuckerberg has increased his wealth by $47 billion, while Musk has seen a decrease of $55 billion, according to data from Bloomberg. The surge in Zuckerberg’s wealth has been fueled by the soaring stock of Meta Platforms, while Tesla’s shares have plummeted.

The reversal in fortunes can be attributed to the stock performance of both companies. Meta Platforms has seen a 43% increase in its stock value this year, while Tesla has experienced a nearly 40% decline. Zuckerberg’s wealth is primarily tied to his ownership of Meta Platforms, where he owns about 13% of the company. In contrast, Musk’s wealth is derived from multiple ventures, including Tesla, SpaceX, and X.

Zuckerberg’s net worth has edged past Musk’s, currently standing at $175 billion compared to Musk’s $174 billion. This has relegated Musk to the fourth-richest person in the world, behind Jeff Bezos and Bernard Arnault. The dynamics of the stock market have played a significant role in the wealth shift between the two tech titans.

Despite their past conflicts, including a rumored cage match that never materialized, Zuckerberg and Musk continue to be key figures in the tech industry. Their diverging fortunes reflect the contrasting performance of their respective companies and their personal investments.