Mark Zuckerberg has surpassed Elon Musk in terms of wealth, making him the world’s third-richest person with a fortune of $175 billion. According to data from Bloomberg, Zuckerberg’s wealth has increased by $47 billion this year, while Musk has seen a loss of $55 billion. This shift in wealth is due to Meta Platforms stock rising and Tesla shares falling.
The near mirror image in the performance of their stocks has helped Zuckerberg gain an edge over Musk in recent days. Zuckerberg’s net worth has surpassed Musk’s by a small margin, with $175 billion compared to Musk’s $174 billion. Year-to-date, Zuckerberg has added $47.3 billion to his net worth, while Musk’s net worth has declined by $55.2 billion. This has caused Musk to slide from the position of the world’s richest person to the fourth richest.
Musk maintains a lead over Bill Gates’ $149 billion fortune, while Zuckerberg is behind Jeff Bezos’ $203 billion and Bernard Arnault’s $221 billion. The driving force behind the changes in Musk and Zuckerberg’s fortunes is the performance of their stocks. Meta Platforms has seen a 43% surge in the stock price this year, while Tesla’s stock has declined by nearly 40%.
The contrast in stock performance is evident, with Meta Platforms reporting solid earnings, introducing a dividend, and garnering investor interest in artificial intelligence. At the same time, Tesla is experiencing slowing sales growth, declining profit margins, and a shift in focus towards robotaxis. Zuckerberg’s wealth is largely tied to Meta Platforms stock, while Musk has multiple businesses contributing to his fortune like Tesla, SpaceX, and X. Despite their past disagreements, both Musk and Zuckerberg have faced off in a cage match last year, which never materialized.