Advertisement
Canada markets closed
  • S&P/TSX

    21,947.41
    +124.19 (+0.57%)
     
  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     
  • DOW

    38,675.68
    +450.02 (+1.18%)
     
  • CAD/USD

    0.7308
    -0.0006 (-0.08%)
     
  • CRUDE OIL

    77.99
    -0.96 (-1.22%)
     
  • Bitcoin CAD

    86,920.91
    +2,381.41 (+2.82%)
     
  • CMC Crypto 200

    1,359.39
    +82.41 (+6.45%)
     
  • GOLD FUTURES

    2,310.10
    +0.50 (+0.02%)
     
  • RUSSELL 2000

    2,035.72
    +19.61 (+0.97%)
     
  • 10-Yr Bond

    4.5000
    -0.0710 (-1.55%)
     
  • NASDAQ

    16,156.33
    +315.37 (+1.99%)
     
  • VOLATILITY

    13.49
    -1.19 (-8.11%)
     
  • FTSE

    8,213.49
    +41.34 (+0.51%)
     
  • NIKKEI 225

    38,236.07
    -37.98 (-0.10%)
     
  • CAD/EUR

    0.6787
    -0.0030 (-0.44%)
     

Mark Zuckerberg moves ahead of Elon Musk on richest person list as Tesla falters

Mark Zuckerberg (left) and Elon Musk (right).
Mark Zuckerberg and Elon Musk compete for a top spot on the Bloomberg Billionaires Index. Drew Angerer via Getty Images; Chesnot via Getty Images
  • Meta CEO Mark Zuckerberg is now the third richest person in the world.

  • Zuckerberg's wealth has outpaced Tesla CEO Elon Musk for the first time since 2020.

  • Musk's wealth has tanked as Tesla shares have slumped more than 34% since the start of the year.

There's a new round in the billionaire brawl between Mark Zuckerberg and Elon Musk — and this time, the Meta CEO is on top.

Zuckerberg became the third richest person on the Bloomberg Billionaires Index on Friday, with a reported net worth of $187 billion. This is the first time Zuckerberg has broken into the ranking's top three since 2020, Fortune reported.

ADVERTISEMENT

Meanwhile, Musk, the Tesla CEO, has fallen to fourth place with a fortune of $181 billion.

The news comes as Tesla sold just 386,800 cars in the first quarter of 2024, marking the company's first year-over-year sales drop in nearly four years. The company's shares fell more than 7% in early trading following the news, and the company's stock is down more than 34% since the start of 2024.

With another $30 billion in the bank, Zuckerberg is approaching Amazon founder Jeff Bezos' level of wealth. Bezos has a net worth of $207 billion and is in second place, according to Bloomberg. LVMH CEO Bernard Arnault is in the top spot with a net worth of $223 billion.

Zuckerberg and Musk are feuding about more than just their fortune.

The tech execs have been at odds since 2016 when a SpaceX explosion destroyed a Facebook satellite. And their public rivalry heated up after Musk challenged Zuckerberg to a cage fight last year. Meta's launch of Threads, a rival social media platform to X, hasn't helped soften the tension between the two.

Read the original article on Business Insider