The Zhitong Finance App learned that the sharp rise in Meta Platforms' (META.US) stock price made Zuckerberg surpass Musk and become the third richest person in the world.
As of Wednesday, Zuckerberg's net worth had reached $175 billion, slightly higher than Musk's $174 billion, according to the latest Bloomberg data. Tesla (TSLA.US) shares fell to a 52-week low, while Meta Platforms shares hit a record high. This led to a further widening wealth gap between the two on Thursday.
Since this year, Zuckerberg's wealth has increased by $47.3 billion, while Musk's net worth has decreased by $55.2 billion. Despite this, Musk's wealth still exceeds the $149 billion of Microsoft (MSFT.US) founder Bill Gates.
The change was mainly driven by the different performance of the company shares held by the two billionaires. Meta Platforms' stock price has risen by more than 46% this year; in contrast, Tesla's stock price has dropped nearly 40%.
With its solid fourth quarter earnings performance, newly launched dividend policies, and high market enthusiasm that its core business may be affected by artificial intelligence, Meta Platforms is in stark contrast to Tesla's slowing sales growth, declining profit margins, and the market's reassessment of its future direction.
It is worth mentioning that Musk and Zuckerberg had feuds in the past. They reached an agreement known as a “cage fight” last year, which attracted widespread attention. However, as time went on, the duel seemed to have evolved more into a “war of words” between the two.