Elon Musk’s wealth is overtaken by Mark Zuckerberg for the first time in four years after Tesla stock price falls
Elon Musk’s wealth yesterday dropped below Mark Zuckerberg’s for the first time in four years as the value of Tesla’s stock has tumbled.
Musk’s fortune is worth $181billion, making him the fourth richest person in the world after being overtaken by the Facebook founder.
Zuckerberg, 40, is worth $187billion, according to Bloomberg’s Billionaires Index.
The tech bosses have a long-standing rivalry, with Musk challenging Zuckerberg to a cage fight in Las Vegas last year.
As recently as March, Musk, 52, was the richest man in the world but his net worth has taken a hit as Tesla’s share price has fallen.
Elon Musk’s (pictured) fortune is worth $181billion, making him the fourth richest person in the world after being overtaken by the Facebook founder
Mark Zuckerberg, 40, (pictured) is worth $187billion, according to Bloomberg’s Billionaires Index
Around $48.7billion has been wiped off Musk’s fortune this year, while Tesla’s stock has dropped more than 30% since January.
The South African businessman’s wealth is tied up in the success of the electric car firm.
Tough competition from Chinese competitors and production issues in Europe has seen Tesla’s share price fall more than 50% from its 2021 peak.
Musk also owns X, formerly Twitter, and around 42% of Space X, and has stakes in brain implant company Neuralink and The Boring Company.
The social media platform has faced a series of setbacks since he bought it for $44billion in late 2022.
In the latest blow for Musk, a Brazilian Supreme Court judge yesterday launched an inquiry into the tech boss after he said he would reinstate accounts on X that the judge had ordered to be blocked.
The multi-billionaire announced that the restrictions had been lifted, saying the court order was unconstitutional.
It came after X said on Saturday that it had been ‘forced by court decisions’ to block some popular accounts in Brazil.
The South African businessman’s wealth is tied up in the success of Tesla, the electric car firm
Tough competition from Chinese competitors and production issues in Europe has seen Tesla’s share price fall more than 50% from its 2021 peak
Musk said the order could lead to a total loss of revenue and closure of the offices in the South American country.
While Musk’s fortune has fallen in value, his competitors have made huge gains this year.
Meta, which owns Facebook and Instagram, has seen its share price rise more than 50% in 2024 – adding $58.8billion to Zuckerberg’s wealth.
A feud between the rival billionaires ramped up last year when Musk tweeted that Instagram makes people depressed.
He later said that Meta-owned WhatsApp ‘cannot be trusted’, and later challenged Zuckerberg to a cage fight.
A fight was cancelled when Musk complained of an injury.
It prompted Zuckerberg to blast the Tesla boss, saying ‘Elon isn’t serious’ about the fight.
The pair also traded barbs when Meta launched Threads in an attempt to rival X.
Meta, which owns Facebook and Instagram, has seen its share price rise more than 50% in 2024 – adding $58.8billion to Zuckerberg’s wealth
Mark Zuckerberg, chief executive officer and founder of Meta, speaks during an event at the company’s headquarters in Menlo Park, California
The list of billionaires can change daily as the ranking is based on stock valuations.
Bernard Arnault, the founder of Louis Vuitton owner LVMH, is the richest man in the world with a net worth of $234billion.
The luxury goods tycoon was followed by Amazon boss Jeff Bezos with $208billion.
The e-commerce giant’s share price has more than doubled since the end of 2022, and has surged more than 20% so far this year.
Amazon and other tech stocks have been buoyed by optimism over the potential of artificial intelligence, boosting Bezos’ personal wealth.
He owns a 9% stake in Amazon and is the retail giant’s biggest shareholder, despite selling 50m shares worth around $8.5billion in February.
Microsoft founder Bill Gates completed the top five list of the richest people in the world with a fortune worth $153billion.
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