Mark Zuckerberg has overtaken Elon Musk to become the third richest person in the world. Bloomberg writes about this.
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Musk, who in early March took first place in Bloomberg Billionaires Index fell to fourth after Reuters reported that Tesla Inc. canceled plans for a less expensive car, which led to a drop in shares.
This comes after news earlier this week that Tesla vehicle deliveries fell in the three months to March, the first year-over-year decline since the early days of the Covid pandemic.
Musk's fortune has fallen by $48.4 billion, while Zuckerberg added $58.9 billion to his fortune as Meta Platforms Inc. rises to new highs.
This is the first time Zuckerberg has broken into the top three of Bloomberg's richest people list since November 16, 2020, when he was worth $105.6 billion and Musk was worth $102.1 billion. Musk's capital is now $180.6 billion; Zuckerberg's net worth is $186.9 billion.
“The narrowing wealth gap between Musk and Zuckerberg, which stood at $215 billion in November 2021, illustrates how once-hot EV stocks have usurped vast tech especially anything to do with artificial intelligence,” notes Bloomberg.
Musk’s net worth could take an even bigger hit after a judge in Delaware threw out his $55 billion pay package to Tesla. The Bloomberg Billionaires Index continues to use options from this salary package, some of Musk's largest holdings, in its calculations of his wealth.
Bernard Arnault, the head of luxury giant LVMH Moet Hennessy Louis Vuitton, and the founder of Amazon.com Inc. Jeff Bezos occupies the first two places in the Bloomberg ranking with a fortune of $223.4 billion and $207.3 billion, respectively.
