Elon Musk has been surpassed by Mark Zuckerberg to become the world’s third-richest person, with a fortune of $175 billion. This year, Zuckerberg has seen an increase of $47 billion in wealth, while Musk’s wealth has decreased by $55 billion, according to Bloomberg data. The surge in Zuckerberg’s wealth is attributed to the rise in stock for Meta Platforms and the drop in Tesla shares.
Throughout the year, Zuckerberg has added $47.3 billion to his net worth, while Musk’s net worth has declined by $55.2 billion. The stock-price performance of the two companies has played a significant role in the change in wealth between Musk and Zuckerberg. The main factor impacting their fortunes is the performance of their respective companies: Meta Platforms has seen a 43% increase in stock this year, while Tesla shares have decreased by almost 40%.
Zuckerberg’s wealth primarily comes from his ownership of Meta Platforms stock, where he owns about 13% of the company. On the other hand, Musk’s wealth is driven by various ventures, including Tesla, SpaceX, and X. Despite their differing sources of wealth, both Zuckerberg and Musk have had public clashes in the past over issues such as encryption and sustainable energy production respectively. However rumors of a cage fight that never transpired between them have been largely debunked.