Elon Musk is once again richer than Mark Zuckerberg as fortunes reverse

Musk derives his wealth primarily from his stake in the EV manufacturer, as well as his holdings in Space Exploration Technologies and X, formerly known as Twitter. — Reuters

Mark Zuckerberg’s fortune plunged US$18bil (RM85.96bil) as shares of Meta Platforms Inc tumbled, allowing Tesla Inc’s Elon Musk to cement his status as the world’s third-richest billionaire.

Meta shares fell 11% Thursday in New York after the social media company said second-quarter sales were likely to come in below estimates. Zuckerberg’s one-day drop in net worth is the 11th-largest ever related to a stock move among those in the Bloomberg Billionaires Index, with his fortune now at US$157bil (RM749.83bil). Musk, 52, added US$5.8bil (RM27.70bil) in wealth to US$184bil (RM878.78bil) as Tesla stock continued its post-earnings rally.