Elon Musk’s wealth has dropped below Mark Zuckerberg’s for the first time in four years as the value of Tesla’s stock tumbled.
Musk’s fortune is worth $ 181 billion, making him the fourth richest person in the world after being overtaken by the Facebook founder.
Zuckerberg, 40, is worth $187billion, according to Bloomberg’s Billionaires Index.
In March, Musk, 52, was the richest man in the world but his net worth has taken a hit as Tesla’s share price has fallen. Around $48.7billion has reportedly been wiped off Musk’s fortune this year, while Tesla’s stock has dropped more than 30% since January.
In the latest blow for Musk, a Brazilian Supreme Court judge yesterday launched an inquiry into the tech boss after he said he would reinstate accounts on X that the judge had ordered to be blocked.
The multi-billionaire announced that the restrictions had been lifted, saying the court order was unconstitutional.
It came after X said on Saturday that it had been ‘forced by court decisions’ to block some popular accounts in Brazil.
Musk said the order could lead to a total loss of revenue and closure of the offices in the South American country.
While Musk’s fortune has fallen in value, his competitors have made huge gains this year.
Meta, which owns Facebook and Instagram, has seen its share price rise more than 50% in 2024, adding $58.8billion to Zuckerberg’s wealth.
