Mark Zuckerberg has become the third richest person in the world by surpassing Elon Musk.

Mark Zuckerberg, the owner of the world’s largest social media platform, is seeing a record increase in his wealth. The situation is that he has become the third richest person in the world by defeating Elon Musk. Mark Zuckerberg has overtaken Elon Musk for the first time since November 2020. Mark Zuckerberg achieved this feat on Friday. According to the Bloomberg Billionaires Index, on Friday, Mark Zuckerberg’s net worth increased by $ 5.65 billion to $ 187 billion. This year Mark Zuckerberg’s wealth has increased by $58.9 billion. The increase in his wealth on Friday was due to a huge rise in the shares of Facebook’s parent company Meta.

Meta shares reached record high on Friday. According to Bloomberg Billionaires Index, Zuckerberg’s net worth is $187 billion. Elon Musk’s net worth has reached $181 billion and he is the fourth richest person in the world. This year Elon Musk suffered a loss of $48.4 billion. Whereas on Friday alone his wealth decreased by $4.52 billion.

It is noteworthy that Tesla CEO Elon Musk was at the top of the list of the world’s richest people till March, but now he has slipped to fourth place. Elon Musk is the person who has lost the most wealth this year, while Mark Zuckerberg has become the billionaire who has gained the most wealth this year. Zuckerberg has overtaken Elon Musk for the first time since November 16, 2020. At that time his net worth was $105.6 billion while Elon Musk’s net worth was $102.1 billion.

The main reason for the decline in Elon Musk’s wealth this year has been Tesla shares. Tesla shares are down 34 percent in 2024. These stocks have become the worst performing stocks in the S&P 500 index. The fall in the company’s shares is due to declining demand for electric vehicles, challenges in China and production issues in Germany.