Home » US business news » Mark Zuckerberg Overtakes Elon Musk On Billionaire Rich List
https://www.whatjobs.com/news/usa/us-business-news/mark-zuckerberg-overtakes-elon-musk-on-billionaire-rich-list
Facebook creator Mark Zuckerberg has gone above his rival Elon Musk in the Billionaire Rich List for the first time in four years.
Musk has been hit by a drop in Tesla's stock value, leaving his personal wealth at $181 billion.
This now makes him the fourth richest person in the world.
Zuckerberg, who is still only 40, is now worth $187 billion, according to Bloomberg's Billionaire's Index.
The pair have had a long-standing rivalry.
This led to Musk challenging Zuckerberg to a cage fight in Las Vegas last year.
Just last month, Musk, who is 52, was number one on the list.
However, Tesla's stock woes have had a big hit on his wealth.
Around $48.7 billion has been wiped off Musk's fortune so far in 2024.
This is largely due to a 30 percent drop in Tesla's stock value.
Tough competition from Chinese competitors and production issues in Europe has seen Tesla's share price fall more than 50 percent from its 2021 peak.
Musk also owns X, formerly Twitter, and around 42 percent 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.
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 percent in 2024 – adding $58.8billion to Zuckerberg's wealth.
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.
Neither man attracts the same level of publicity as Zuckerberg, and, in particular, Musk.
Microsoft founder Bill Gates is among the world's richest five with a fortune worth $153 billion.
Follow us on YouTube, X, LinkedIn, and Facebook
