Meta CEO Mark Zuckerberg and Elon Musk never made it into the ring, but Zuckerberg still dealt the Tesla CEO a blow by overtaking him on the list of the world’s richest people.
Zuckerberg is now the third richest person on this planet with a net value of $171 billion, ahead of number 4 Musk, who has a net value of $168 billion Bloomberg Billionaires Index. According to Bloomberg, the Meta CEO has develop into tens of billions of dollars richer because the starting of the 12 months, thanks partly to the stellar performance of Meta shares.
Although his official salary has remained constant for a decade at $1According to the corporate, Zuckerberg is Meta’s largest and controlling shareholder, with greater than 350 million shares Proxy Opinion. Meta’s shares have risen about 40% since January, giving Zuckerberg a paper profit of about $49 billion from the stocks he owns or controls.
Meanwhile, one in all Musk’s primary sources of wealth, Tesla stock, is in trouble. Shares are down 43% year-to-date, making it the worst-performing company within the S&P 500. According to the corporate, Musk owns just over 715 million Tesla shares Proxy statement, and its value has fallen by $76 billion since January.
Tesla’s weak stock performance comes as the corporate reported its first year-over-year sales decline because the pandemic earlier this month. Over the weekend, the corporate also reduced the value of several vehicles and its full self-driving software.
Even notable Tesla bulls have recently expressed doubts concerning the company’s direction and expect answers from Musk in Tuesday’s earnings release.
But as Musk’s flagship company backs down, he remains to be attempting to secure a $45 billion pay package after a judge rejected it in January (when it was value $56 billion). Musk’s big payday could put him above Zuckerberg when it comes to net value, but it surely is unclear whether the package shall be approved by shareholders at the corporate’s proxy meeting in June.
The two billionaire managers have been at odds for years. In 2016, Meta contracted with SpaceX to launch a satellite that may provide web access to sub-Saharan Africa. The rocket exploded on the trip, prompting Zuckerberg to put in writing on Facebook that this was the case “deeply disappointed.” After Musk bought Twitter (now X), Zuckerberg quickly launched Threads, the same competitor that Musk later described as “eerily quiet.”
Their conflict escalated in June when Musk challenged Zuckerberg in a post on X.
“I’m ready for a cage fight if he does lol,” he said wrote by the point.
Zuckerberg, who has recently develop into eager about martial arts, seemed to be taking the challenge seriously and was ready to choose the fight. He later said Musk wasn’t serious about getting within the ring.
“Dana White offered to make it a real competition for charity. “Elon won’t confirm an appointment, then says he needs surgery and now asks to do a practice run in my backyard instead,” Zuckerberg continued subjects. “If Elon ever gets serious about a real date and a formal event, he knows how to reach me.”
