Musk, who topped the Bloomberg Billionaires Index in early March, fell to fourth place after Reuters reported that Tesla Inc had canceled plans for a less expensive car, which sent the stock tumbling (Musk denied the report). This followed earlier news this week that Tesla vehicle deliveries eased in the three months through March, its first year-on-year decline since the early days of the covid pandemic.
The Musk wealth fell $48.4 billion this year, while Zuckerberg added $58.9 billion to his fortune with the rise of Meta Platforms Inc. new highs, including a new record on Friday.
Wealth: Zuckerberg’s first time at the top of the ranking
It’s the first time that Zuckerberg He is among the top three positions in Bloomberg’s ranking of the richest people since November 16, 2020, when his fortune was $105.6 billion and Musk’s was $102.1 billion. Musk now has a net worth of $180.6 billion and Zuckerberg of US$186.9 billion.
The reversal of the wealth gap between Musk and Zuckerberg, which amounted to US$215,000 million in November 2021, illustrates how big tech companies, and particularly everything related to artificial intelligence, have usurped the electric vehicle stocks that were once all the rage.
The fall of Tesla, the collapse of Elon Musk’s wealth
The Tesla shares have fallen 34% this yearwhich makes them those of worst performance in the S&P 500 index. has been hit by a global slowdown in demand for electric vehicles, increasing competition in China and production problems in Germany. Meanwhile, Meta is up 49% on strong quarterly earnings and enthusiasm for the company’s artificial intelligence initiatives.
The rivalry of the two billionaires extends beyond their wealth: Musk and Zuckerberg have been involved in a Ongoing public dispute that escalated when Meta launched Threadsa social media platform that competes with Musk’s X social network.
Musk’s net worth could take a fresh hit after a Delaware judge voided his $55 billion Tesla pay package. The Bloomberg Billionaires Index continues to use the options in that pay package, which are one of Musk’s biggest assets, in calculations of his wealth.
Who shares the position with Mark Zuckerberg
Bernard Arnault, president of luxury giant LVMH Moët Hennessy Louis Vuitton, and the founder of Amazon.com Inc., Jeff Bezos, occupy the first two places in the Bloomberg wealth ranking with fortunes of US$223.4 billion and US$207.3 billion, respectively.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
