Mark Zuckerberg surpasses Elon Musk to become the third richest person in the world

Mark Zuckerberg surpasses Elon Musk to become the third richest person in the world

Mark Zuckerberg has overtaken Elon Musk to become the world’s third-richest person due to the near-mirror performance of stock prices, according to data.

Mark Zuckerberg’s net worth was $175 billion as of Wednesday, narrowly surpassing Musk’s net worth of $174 billion. The gap is expected to widen on Thursday as Tesla stock falls to a 52-week low while MetaPlatform stock heads towards an all-time high.

Since the beginning of this year, Mr. Zuckerberg’s net worth has increased by $47.3 billion, while Mr. Musk’s net worth has decreased by $55.2 billion. This decline has propelled Musk from being the world’s richest person to the world’s fourth-richest person.

Musk is worth more than Bill Gates with $149 billion, but Zuckerberg is behind Jeff Bezos with $203 billion and Bernard Arnault with $221 billion.

The reason for the turnaround for Mr. Musk and Mr. Zuckerberg is the performance of their respective stock prices. Metaplatforms is up 43% since the beginning of the year, while Tesla stock is down nearly 40%.

Strong fourth-quarter results, a newly implemented dividend, and growing investor enthusiasm for the impact that artificial intelligence will have on the Meta Platform’s underlying business could lead to slower Tesla revenue growth, narrower margins, and This is in stark contrast to the “thesis-changing” robotaxi pivot with Tesla.

The majority of Zuckerberg’s money is derived from the Meta Platforms stock. The co-founder of Facebook owns roughly 13% of the social media business. In contrast, Musk’s wealth is driven by a variety of business ventures, including as SpaceX, Tesla, and X.

Musk and Zuckerberg have clashed in the past, with both agreeing to a cage fight last year. The fight never happened.

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