Meta CEO Mark Zuckerberg is vying for the title of “world’s third-richest person” with Tesla CEO Elon Musk, who has seen his income increase significantly this year.
According to the Bloomberg Billionaires Index, Zuckerberg’s fortune has increased by over $54 million since January, and he was worth $182 billion as of Friday’s closing bell, trailing Musk by only $7 billion.
The 39-year-old digital billionaire, who has not been richer since November 2020, draws the majority of his money from his 13% ownership in Meta, which owns Facebook, Instagram, and WhatsApp, according to Business Insider.
Its shares are up 43% this year, thanks in part to Zuckerberg’s “year of efficiency” cost-cutting measures.
On the contrary, Tesla’s net worth has decreased by $40 million.
Tesla fell 29% due to investor concerns about a worldwide demand slowdown, while Meta and other “Magnificent Seven” tech firms rose.
According to equities strategist Seth Goldstein, Tesla is “supposed to be a high-growth stock, and the short answer is that it does not appear to be that high-growth this year.”
