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Mark Zuckerberg passed Elon Musk to become the third-richest person in the world, the first time since 2020 the arch-rival billionaires have held those positions.
Musk, who ranked first on Bloomberg Billionaires Index as recently as early March, fell to fourth after Tesla had canceled plans for a less-expensive car, sending shares lower.
Musk’s wealth has shrunk by $48.4 billion this year, while Zuckerberg has added $58.9 billion to his fortune as Meta Platforms Inc. climbs to fresh highs.
It’s the first time Zuckerberg has broken into the top three on Bloomberg’s ranking of the richest people since November 16, 2020.
Elon Musk now has a net worth of $180.6 billion; while Mark Zuckerberg’s is $186.9 billion.
Musk and Zuckerberg have been engaged in an ongoing public spat that intensified when Meta launched Threads, a social-media platform that competes with Musk’s X.