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Contrasting fortunes for Musk and Zuckerberg this past year

LivemintLivemint · 1y
Contrasting fortunes for Musk and Zuckerberg this past year

Elon Musk and Mark Zuckerberg have had a long-standing rivalry, with Musk recently surpassing Zuckerberg to become the world's richest man. However, in the past year, Zuckerberg's net worth has tripled while Musk's has shrunk. Part of this decline is attributed to the shrinking market cap of Musk's companies, Tesla and SpaceX. Meanwhile, Zuckerberg's Meta Platforms has seen a significant increase in market capitalization. Tesla's drop in market cap is partly due to disappointing financial performance, increased competition, and price cuts. Meta has faced challenges with ad revenues and a decline in users for its new platform, Threads. However, Meta still owns top social media platforms and has reported revenue growth in recent quarters.

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