According to Business Standard, Elon Musk reclaimed the title of the world’s third-richest person from Mark Zuckerberg as Meta’s shares plunged by 16% on Thursday.
Zuckerberg’s wealth has decreased by $18 billion in the world’s fourth-largest single-day stock drop, while the CEO of Tesla gained $5.8 billion. Presently, Zuckerberg’s fortune totals $157 billion, whereas Musk possesses a wealth of $184 billion.
The two billionaires frequently find themselves at odds, even engaging in online disputes, including talk of a potential cage fight last year. Zuckerberg’s launch of the social media app Threads in 2023 was seen as a direct challenge to Musk’s X, formerly known as Twitter.
The bulk of Zuckerberg’s wealth is derived from his shares in Meta Platforms, while Musk’s fortunes are closely linked to his interests in Tesla, SpaceX, and X.
Tesla’s stock prices are currently rising after Musk’s announcement of plans to produce affordable vehicles beginning this year, reversing a previous downward trend.
At present, Bernard Arnault, chairman of LVMH, holds the title of the world’s wealthiest individual with a net worth of $231 billion, followed by Amazon founder Jeff Bezos, whose net worth stands at $195 billion.