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Tesla's Elon Musk speeds past Mark Zuckerberg on the billionaires list after Meta stock plummets on its cash-sucking AI plans [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
Thanks to on-paper gains from his EV maker, Musk's net worth rose to $185 billion, a nearly 9% jump from earlier this week that put him ahead of Zuckerberg's $157 billion, according to the Bloomberg Billionaires Index . At the same time, disappointing Meta earnings took a $14 billion toll on CEO Zuckerberg's net worth. Friday's billionaire list reversal comes after Zuckerberg surpassed the Tesla CEO earlier this month for the first time since 2020. Meta's skyrocketing shares pushed Zuckerberg ahead of Musk as Tesla's recent trouble, including price cuts and its first year-over-year sales decline since the pandemic, made it one of the worst-performing stocks in the S&P 500. Tesla's shares are still down 31% year-to-date, while Meta's shares are up about 27% over the same period. The net worth of both chief executives are closely tied to their flagship companies. Zuckerberg owns or controls more than 350 million shares of Meta, giving him a 13% stake in the company, according to th
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