Mark Zuckerberg overtook Elon Musk to claim the third spot on the list of the world's wealthiest individuals.
The Meta founder clinched the spot on Friday, marking the first time since 2020 that these two rival billionaires have held these rankings.
According to Fortune, Musk was in the top position on the Bloomberg Billionaires Index as early as March.
However, following Reuters' report on Tesla canceling plans for cheaper cars, Musk's ranking dropped to fourth place as shares declined.
Earlier in the week, it was reported that Tesla experienced a decline in vehicle deliveries during the three months leading up to March. This marked their first year-over-year decrease since the onset of the Covid pandemic.
This year, Musk's wealth went down by $48.4 billion, while Zuckerberg's fortune went up by $58.9 billion as Meta Platforms Inc. reached new highs, hitting a record on Friday.
Zuckerberg has entered Bloomberg's top three richest people for the first time since November 16, 2020, when he was valued at $105.6 billion, slightly trailing Musk, whose net worth was $102.1 billion at the time.
As of now, Musk's wealth stands at $180.6 billion, while Zuckerberg's has risen to $186.9 billion.
The shift in the wealth difference between Musk and Zuckerberg, which reached its highest point at $215 billion in November 2021, highlights the shift in focus from formerly popular electric vehicle stocks to big tech, especially in the realm of artificial intelligence(AI).
