Mark Zuckerberg now richer than Elon Musk
Mark Zuckerberg, the CEO of Meta Platforms, has surpassed Elon Musk, the CEO of Tesla, as the third richest person in the world, according to the Bloomberg Billionaires Index. This is the first time since 2020 that Zuckerberg has held this position, while Musk has fallen to fourth place. The reversal of their wealth gap, which was once as big as $215 billion, highlights the growing dominance of big tech companies, particularly those involved in artificial intelligence, over electric vehicle stocks.
Mark Zuckerberg’s net worth is now $186.9 billion, while Musk’s is $180.6 billion. This change in fortune comes as Tesla’s vehicle deliveries fell in the first quarter of 2024, marking their first year-over-year decline since the early days of the Covid pandemic.
Meanwhile, Meta Platforms has seen strong quarterly earnings and excitement around its AI initiatives, causing its stock to surge 49% this year. Tesla’s shares, on the other hand, have fallen 34% this year, making it the worst performer in the S&P 500.
Beyond the Billions: Impact and Legacy
While net worth captures public attention, it’s crucial to look beyond the billions when evaluating the impact of figures like Mark Zuckerberg and Musk. Their decisions and innovations have a profound influence on how we interact, consume information, and even conduct business. The way they choose to utilize their wealth for philanthropic endeavors and technological advancements will ultimately shape their legacies.
Conclusion
Mark Zuckerberg’s surpassing of Musk as the world’s third richest person is a fascinating development in the ever-evolving world of tech titans. This shift reflects the dynamic nature of the industry, where fortunes can change rapidly. It’s a reminder that while wealth is a significant marker, the true impact of these figures lies in the innovations they drive and the choices they make. As we move forward, it will be interesting to see how Zuckerberg and Musk continue to shape the technological landscape and what their lasting legacies will be.
The rivalry between Zuckerberg and Musk extends beyond their wealth. The two have been engaged in a public feud since 2016, when a SpaceX explosion destroyed a Facebook satellite. Their rivalry intensified last year after Musk challenged Zuckerberg to a cage fight and Meta launched Threads, a social media platform that competes with Musk’s X platform. The two even publicly exchanged barbs last year.
Despite their ongoing feud, Mark Zuckerberg’s rise to the third richest person in the world is a significant milestone in his career. It also highlights the growing influence and power of big tech companies, particularly those involved in AI, over traditional industries such as electric vehicles. As the world becomes increasingly digital, it will be interesting to see how this rivalry between two of the world’s most influential tech leaders plays out in the coming years.
