For the first time since 2020, the bitter rival billionaires have shared the third-richest person in the world title, with Mark Zuckerberg surpassing Elon Musk on Friday.
As early as March, Musk was rated first on the Bloomberg Billionaires Index, according to Fortune.
However, after Reuters reported that Tesla had cancelled plans for less expensive cars, shares slumped and Musk dropped to fourth place, he refuted the allegations.
This came after reports surfaced this week that Tesla's car sales decreased in the three months ending in March—their first dip year over year since the beginning of the Covid outbreak.
This year, Musk's worth has decreased by $48.4 billion, while Zuckerberg's wealth has increased by $58.9 billion as Meta Platforms reach new heights, setting a record on Friday.
This marks Zuckerberg's first time within the top three on Bloomberg's list of the world's richest people since November 16, 2020, when Musk's wealth was $102.1 billion and his was $105.6 billion.
Zuckerberg is worth $186.9 billion, whereas Musk is currently at $180.6 billion.
The reversal of the wealth disparity between Musk and Zuckerberg — which peaked at $215 billion in November 2021 — shows how big tech, especially artificial intelligence (AI), has supplanted once-hot electric vehicle stocks.
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KSE-100 Index closes at 115,844.81, gaining 572.73 points, or 0.5%
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Bananas post the largest increase, rising by 3.22%, while petrol prices increase by 1.39%
KSE-100 shares index surged 1,435.34 points, or 1.26%, to close at 115,272.08 points.
