Elon Musk’s wealth fell below Mark Zuckerberg’s for the first time in four years yesterday after the value of Tesla’s shares fell.
Musk’s fortune stands at $181 billion, making him the fourth richest person in the world, after being overtaken by the Facebook founder.
Zuckerberg, 40, is worth $187 billion, according to Bloomberg’s Billionaires Index.
The tech bosses have a long-standing rivalry, with Musk challenging Zuckerberg to a cage fight in Las Vegas last year.
As recently as March, Musk, 52, was the richest man in the world, but his wealth has taken a hit as Tesla’s share price has fallen.
Elon Musk’s (pictured) fortune is worth $181 billion, making him the fourth richest person in the world after being overtaken by the Facebook founder
Mark Zuckerberg, 40, (pictured) is worth $187 billion, according to Bloomberg’s Billionaires Index
About $48.7 billion has been wiped from Musk’s fortune this year, while Tesla shares have fallen more than 30% since January.
The South African businessman’s wealth is tied to the success of the electric car company.
Tough competition from Chinese rivals and production issues in Europe have seen Tesla’s share price fall more than 50% from its 2021 peak.
Musk also owns X, formerly Twitter, and about 42% of Space X, and has stakes in brain implant company Neuralink and The Boring Company.
The social media platform has suffered a series of setbacks since buying it for $44 billion in late 2022.
In the latest blow to Musk, a Brazilian Supreme Court judge yesterday launched an investigation into the tech boss after he said he would restore accounts on X that the judge had ordered blocked.
The multi-billionaire announced that the restrictions had been lifted and said the court order was unconstitutional.
It came after X said on Saturday it had been “forced by judicial decisions” to block some popular accounts in Brazil.
The South African businessman’s wealth is tied to the success of electric car company Tesla
Tough competition from Chinese competitors and production issues in Europe have seen Tesla’s share price fall more than 50% from its 2021 peak
Musk said the order could lead to a total loss of revenue and closure of offices in the South American country.
Although Musk’s fortune has fallen in value, his competitors have made huge profits this year.
Meta, which owns Facebook and Instagram, has seen its stock price rise more than 50% by 2024, adding $58.8 billion to Zuckerberg’s wealth.
A feud between the rival billionaires flared up last year when Musk tweeted that Instagram makes people depressed.
He later said Meta-owned WhatsApp was “not to be trusted” and later challenged Zuckerberg to a cage fight.
A fight was canceled when Musk complained of an injury.
It prompted Zuckerberg to slam the Tesla boss, saying that “Elon doesn’t mean the fight.”
The pair also traded barbs when Meta launched Threads in an attempt to match X.
Meta, owner of Facebook and Instagram, has seen its stock price rise more than 50% by 2024, adding $58.8 billion to Zuckerberg’s wealth
Mark Zuckerberg, CEO and founder of Meta, speaks at an event at the company’s headquarters in Menlo Park, California
The list of billionaires can change daily because the ranking is based on stock valuations.
Bernard Arnault, the founder of Louis Vuitton owner LVMH, is the richest man in the world with a net worth of $234 billion.
The luxury goods magnate was followed by Amazon boss Jeff Bezos with $208 billion.
The e-commerce giant’s share price has more than doubled since the end of 2022 and is up more than 20% so far this year.
Amazon and other tech stocks are buoyed by optimism about the potential of artificial intelligence, boosting Bezos’ personal wealth.
He owns a 9% stake in Amazon and is the retail giant’s largest shareholder, despite selling 50 million shares worth about $8.5 billion in February.
Microsoft founder Bill Gates rounded out the top five richest people in the world with a fortune worth $153 billion.