Meta CEO Mark Zuckerberg's wealth tops rival Elon Musk for first time since 2020
Elon Musk and Mark Zuckerberg
In a first since 2020, Mark Zuckerberg surged past Elon Musk to become the third-richest person in the world according to Bloomberg's ranking. Zuckerberg and Musk's net worth is $186.9 billion and $180.6 billion respectively.
Musk Slips as Tesla Faces Challenges
The shift came after Reuters reported that Tesla Inc. had canceled plans for a less-expensive car. Though Musk denied the report, the Tesla stock took a hit. Elon Musk is currently ranked fourth on the Bloomberg Billionaires Index.
In contrast, with the success of Meta, Zuckerberg's wealth has grown, andthe company stock has risen to new heights this year getting him in the top 3 for the first time since 2020.
This year Tesla stock has seen a 34% drop meanwhile, Meta Platforms Inc. has surged by 49%
Tech Dominance in Wealth Creation
With the AI boom in full swing, a broader trend shows that technology companies have been doing well in the market. Meanwhile, EVs (electric vehicle) stocks have seen a dip.
Beyond Wealth: A Public Rivalry
Elon Musk and Mark Zuckerberg's rivalry beyond business is well known. They both have gotten into public disputes from time to time. Last year, Musk even challenged the Meta CEO to a public boxing match, which did not happen. This came after Meta launched Threads which is a direct competitor to Elon Musk-owned Twitter, now X.
Who are the two richest persons according to the Bloomberg Billionaires Index
At the top spot in the Bloomberg Billionaires Index is Bernard Arnault the chairman of LVMH Moet Hennessy Louis Vuitton with a total fortune of $207.3 billion. Jeff Bezos the founder of Amazon.com Inc. is the second wealthiest man with a total fortune of $207.3 billion.
