Mark Zuckerberg overtakes Elon Musk as the world’s third richest person with $175 billion, as their companies’ stocks go in the opposite direction.
In recent monthly updates, Tesla’s CEO’s net worth has dropped by overtaking $55 billion while the Meta chief’s net worth has increased. Meta CEO Mark Zuckerberg is officially wealthier than Elon Musk, as Tesla’s stock is rapidly dropping thanks to Musk’s net worth.
According to Bloomerg’s Billionaire Index, Zuckerberg overtook Musk and gained a net worth of over $47 billion in 2024, hitting $175 billion as of Wednesday. Conversely, Musk has watched his value drop by more than $55 billion to a marginally less $174 billion.
The gap between the two men will likely widen on Thursday as Tesla stocks hit a new 52-week low and Meta gains value.
Musk is ahead of Bill Gates’s $149 billion fortune, while Zuckerberg is behind Jeff Bezos’ $203 billion fortune and Bernalt Arnault’s $ 221 billion net worth.
Musk and Zuckerberg’s shift in fortunes drives the performance of their respective stocks. Meta platforms have surged 43% year-to-date, while Tesla shares are down nearly 40%.
Solid fortune-quarter earnings results, a newly initiated dividend, and growing investor enthusiasm for the impact of artificial intelligence on the meta platform’s underlying business contrast starkly with Tesla’s slowing sales growth, declining profit margins, and “thesis-changing” pivot.
Zuckerberg’s source of wealth is highly concentrated in Meta platform stock. The Facebook co-founder owns about 13% of the social media company. That contrasts Musk, who has many business ventures driving his fortune, including Tesla, SpaceX, and X.
Zuckerberg’s overtake of Musk has been at odds, and both agreed to fight in a cage match last year. The fight never happened.
Frequently Ask Questions
Who is the 3rd Richest Person?
Mark Zuckerberg has overtaken Elon Musk as the third richest person in the world, with a $175 billion fortune.
Who is the wealthiest man in the world in 2024?
Bernard Arnault will be the wealthiest man in the world in 2024, with a net worth of $233 billion.
How rich is Meta?
Meta Platform’s net worth as of April 11, 2024, is $1333.75B. Meta platform’s is the world’s largest social media platform.
Who is the CEO of Meta?
Mark Zuckerberg overtook Elon Musk. He is the CEO, co-founder, and chairman of Meta, which he founded as Facebook in 2004. Mark is responsible for setting the company’s overall direction and product strategy.