Mumbai, April 7: Mark Zuckerberg, Co-Founder and CEO of Meta, has reportedly beaten tech billionaire Elon Musk and secured a higher spot on the "world's richest people" list. Meta's stock price has reportedly soared, reflecting the trend in the tech industry. On the other hand, it was reported that Tesla struggled in its industry. Meta CEO Mark Zuckerberg has reportedly become "the world's third-richest person." 

According to a report by the Times of India, Elon Musk's wealth shrunk by $48.4 billion in 2024. Elon Musk's net worth was affected by Tesla's challenges. As per the report, the cancellation of affordable Tesla models and a decline in vehicle delivery led to the loss of Tesla shares. The report said that Elon Musk refuted this claim. Elon Musk’s X Forced by Court To Block Some Popular Accounts in Brazil Without Disclosing Reason, Platform To Legally Challenge Court’s Decision.

On the other hand, Mark Zuckerberg's net worth grew to $58.9 billion, a substantial increase in 2024. The report highlighted that Meta Platforms Inc. had been witnessing strong performance with higher earnings, and Mark Zuckerberg's announcement about furthering artificial intelligence sparked excitement among investors, leading to the rise. The report mentioned that Tesla, on the other hand, faced issues with slowed global EV demand and severe competition from China's electric vehicle companies like BYD Auto.

Elon Musk Vs Mark Zuckerberg: Rivalry of Two Tech Billionaires

The rivalry between Elon Musk and Mark Zuckerberg is much deeper than the wealth comparison. Elon Musk had repeatedly told Mark Zuckerberg to fight with him in a personal fight ring. On the other hand, Zuckerberg told that it was time to move on. Both the tech billionaires had been engaged in a public spat for years, and the rivalry became more intense when Mark launched the X-competitor platform Threads. Elon Musk Followers on X: Tech Billionaire Crosses Over 180 Million Followers on His Popular Microblogging Platform, Expected To Reach 200 Million in Next 60 Days.

Looking forward, the report said that Elon Musk's net worth might further be impacted by the court ruling striking down the Tesla pay package of $55 billion. On the other hand, Mark Zuckerberg came out on the higher spot with his Meta company. Recently, Elon Musk's X also got into trouble as Brazil's court judge forced his microblogging platform to block some popular accounts without revealing any reason. X reportedly lifted all restrictions, due to which X was said to lose all the revenue in Brazil and may shut down its office there. The future still awaits to see who comes out on the top of the list of the world's richest people.

(The above story first appeared on LatestLY on Apr 07, 2024 07:08 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website