After Losing $20bn in One Day, Musk’s Wealth Rises to $242bn, Zuckerberg Now 7th Richest Person in the World

After Losing $20bn in One Day, Musk’s Wealth Rises to $242bn, Zuckerberg Now 7th Richest Person in the World

  • Elon Musk continues to maintain his position as the World’s richest man, gaining $7 billion in one day
  • Musk is reportedly set to become the first trillionaire in history, as his wealth stands at $242 billion
  • Meta CEO, Mark Zuckerberg, gained $4 billion in one day which saw him ranked as the 7th richest man in the World

After he lost $20 billion in a single day due to the crash of Tesla shares, Elon Musk has gained over $12 billion in the last seven days.

The Twitter CEO earned almost $8 billion in one day as the share price of Tesla rebounded by 10.73%, selling at $266.44 per share.

Mark Zuckerberg, Elon Musk
Tesla CEO, Elon Musk and Mark Zuckerberg
Credit: Bloomberg / Contributor
Source: Getty Images

Elon Musk solidifies positions, set to become first trillionaire in history

The development solidified Elon Musk’s position as the wealthiest man on earth with a staggering $242 billion, which puts him in the position of becoming the World’s first-ever trillionaire.

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According to Bloomberg Billionaire Index, Musk has gained about $107 billion since 2023, after he lost $200 billion last year as global tech stocks tumbled following economic recovery from the ravages of the COVID-19 pandemic.

Musk’s wealth is primarily from his 13.4% stake in the electric car company Tesla.

Mark Zuckerberg recoups lost wealth, now 7th richest man in the world

Similarly, Meta CEO Mark Zuckerberg, who lost $70 billion last year, has recouped much of his wealth as Meta stocks soared in value, gaining an impressive 13.77%.

The pricey Meta stocks traded at $325.44 as of Friday, July 28, 2023.

Zuckerberg holds 13% equity in Meta stocks, which has seen him ranked as the 7th richest man in the World.

Zuckerberg has gained over $70 billion in net worth, eclipsing his 2022 losses.

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Analysts believe Meta stocks rebounded after the tech company ditched its ill-fated metaverse, which bore a bottomless abyss in its resources.

Data from Bloomberg Billionaire Index shows that the first 10 wealthiest men in the World are all in the green zone as their wealth recorded considerable gains.

Elon Musk close to hitting $200 billion in net worth, earns N2.1trn in 24 hours as Dangote makes N21bn reported that Tesla CEO Elon Musk has hit $200 billion in net worth for the second time, the equivalent of what he lost last year, which earned him a place in the Guinness Book of World Records as the first man in history to lose $200 billion.

Musk ousted LVMH merchant Bernard Arnault to clinch the position as the wealthiest man in the world, following the stellar performance of his electric car company, Tesla.

Tesla shares rose 3.61% on Tuesday, June 6, 2023, to trade at $229, gaining almost $8.



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