Mark Zuckerberg has surpassed Elon Musk to become the third richest person in the world. Back in early March, Musk was ranked first in the billionaire index Bloomberg, but dropped to fourth after the announcement of the cancellation (which Musk later denied). Earlier in the week, it was reported that Tesla’s fell over the past three months.
This year, Musk’s wealth has decreased by $48.4 billion, while Zuckerberg has added an additional $58.9 billion. Meta shares are growing rapidly and set a new record on Friday. This is the first time that Zuckerberg has broken into the top three of the richest people since November 16, 2020, when his fortune was $105.6 billion and Musk’s was $102.1 billion. Currently, Musk’s net worth is $180.6 billion, and Zuckerberg’s is —$186.9 billion.
This year, Tesla shares have fallen by 34%, the worst performer in the S&P 500 index. This was influenced by a global slowdown in demand for electric vehicles, increased competition in China, and production problems in Germany. Meta, meanwhile, gained 49% thanks to strong quarterly earnings and interest in the company’s AI initiatives, the fifth-best performance in the S&P 500.
Musk’s fortune could take an even bigger hit after a Delaware judge canceled his $55 billion in Tesla compensation. The Bloomberg Billionaires Index continues to use options from this package in its calculations of his wealth. Bernard Arnault, chairman of the luxury giant LVMH Moet Hennessy Louis Vuitton, and Amazon.com Inc. Jeff Bezos are the top two in Bloomberg’s ranking with $223.4 billion and $207.3 billion respectively.