On Friday, Mark Zuckerberg achieved a notable milestone by surpassing Elon Musk to claim the title of the third-richest person globally, according to the Bloomberg Billionaires Index. This marked the first time since 2020 that Zuckerberg and Musk switched positions in the rankings, reflecting the shifting fortunes of the tech titans.
The reshuffling in wealth rankings occurred after a series of events that impacted Musk’s net worth. Tesla Inc., the company founded and led by Musk, faced setbacks as reports emerged of the cancellation of plans for a more affordable vehicle, leading to a decline in Tesla’s stock value. Musk, whose wealth has diminished by $48.4 billion this year, saw his ranking slip to fourth place.
Meanwhile, Zuckerberg’s fortune soared as Meta Platforms Inc., the parent company of Facebook, climbed to new heights, reaching record levels on Friday. Zuckerberg’s net worth now stands at $186.9 billion, compared to Musk’s $180.6 billion. This marks a significant reversal from November 2021 when the wealth gap between the two was as wide as $215 billion.
The contrasting trajectories of their companies underscore the dominance of big tech, particularly in artificial intelligence, over once-prominent electric vehicle stocks. While Tesla struggled amid global EV demand slowdowns and production challenges, Meta thrived, buoyed by strong quarterly earnings and optimism surrounding its AI ventures.
Beyond their financial rivalry, Musk and Zuckerberg have engaged in public spats, notably with Meta’s recent launch of Threads, a social media platform competing with Musk’s X. Their rivalry even extended to discussions about a potential cage fight. Musk, 52, reignited the idea recently, challenging Zuckerberg, 39, to a bout “anywhere, anytime.”
Looking ahead, Musk’s net worth may face further fluctuations, particularly after a Delaware judge invalidated his $55 billion Tesla pay package. Nevertheless, with Zuckerberg’s ascent and Musk’s resilience, the competition among the world’s wealthiest individuals continues to captivate global attention.
