Mark Zuckerberg Overtakes Elon Musk as the World’s Third-Richest Person: What You Need to Know

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.

Zuckerberg’s net worth 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. 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.

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. The dynamics of the stock market have played a significant role in the wealth shift between the two tech titans.

While Zuckerberg’s net worth has edged past Musk’s current standing at $175 billion compared to Musk’s $174 billion, it is important to note that these figures are subject to change based on market fluctuations and other factors such as investment decisions and acquisitions made by both individuals or their companies.