Mark Zuckerberg rises to third place in the world’s richest people ranking with a fortune of $186.9 billion, surpassing Elon Musk
Mark Zuckerberg has overtaken Elon Musk to become the third richest person in the world. Back in early March, Musk was ranked first in the Bloomberg Billionaire Index, but dropped to fourth after reports that Tesla’s low-cost model was canceled (which Musk later denied). Earlier in the week, it was reported that Tesla’s car deliveries have fallen over the past three months.
This year, Musk’s wealth decreased by $48.4 billion, while Zuckerberg 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 richest people since November 16, 2020, when his fortune was $105.6 billion and Musk’s was $102.1 billion. Currently, Musk’s capital 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 driven by a global slowdown in demand for electric vehicles, increased competition in China, and production problems in Germany. Meta, meanwhile, grew by 49% due to strong quarterly earnings and interest in the company’s AI initiatives. This is the fifth best result in the S&P 500.
Musk’s fortune may take an even bigger hit after a Delaware judge canceled his $55 billion compensation at Tesla. The Bloomberg Billionaires Index continues to use options from this package in its wealth calculations. Bernard Arnault, chairman of the luxury giant LVMH Moet Hennessy Louis Vuitton, and founder of Amazon.com Inc. Jeff Bezos occupies the first two places in the Bloomberg ranking with a fortune of $223.4 billion and $207.3 billion, respectively.
