Elon Musk Overtakes Mark Zuckerberg in Billionaire Rankings
In a dramatic turn of events, Elon Musk has solidified his position as the world’s third-richest billionaire, surpassing Mark Zuckerberg whose fortune took a hit of $20 billion. The shift in rankings came after Meta Platforms Inc., Zuckerberg’s company, announced a decline in second-quarter sales estimates, causing its shares to plummet by as much as 16% in New York.
Musk, on the other hand, saw his wealth increase by $400 million, bringing his net worth to $178 billion. This comes as Tesla stock continued its post-earnings rally, with shares surging 12% after Musk promised to introduce more affordable vehicles in the near future.
The rivalry between the two billionaires goes beyond their wealth, with Musk and Zuckerberg engaging in a public feud that escalated when Meta launched Threads, a social media platform competing with Musk’s X. The animosity between the two even led to speculation about a possible cage fight last year.
Despite the recent setback, Meta’s stock is still up 22% for the year, reflecting optimism around its investments in artificial intelligence. Meanwhile, Tesla’s stock had been struggling before the recent rally, but Musk’s commitment to expanding the company’s product offerings has reignited investor confidence.
As Musk and Zuckerberg continue to jockey for position on the billionaire rankings, their competition shows no signs of slowing down. The battle between these tech titans is sure to keep investors and spectators alike on the edge of their seats.
