On Friday, Mark Zuckerberg surpassed Elon Musk to claim the third spot on the world’s richest list, marking the first time since 2020 that these arch-rival billionaires have occupied these positions.

Mr. Musk, who held the top spot on the Bloomberg Billionaires Index as recently as early March, dropped to fourth place after Reuters reported that Tesla had scrapped plans for a cheaper car, causing share prices to plummet. Mr. Musk refuted the report.

Mr. Musk has seen his wealth decrease by $48.4 billion this year, while Mr. Zuckerberg has seen an increase of $58.9 billion in his fortune as Meta Platforms reaches new highs, including a record set on Friday.

This marks the first occasion since November 16, 2020, when Mr. Zuckerberg’s net worth was $105.6 billion and Mr. Musk’s fortune stood at $102.1 billion, that Mr. Zuckerberg has entered the top three on Bloomberg’s ranking of the wealthiest individuals.

Mr. Musk currently possesses a net worth of $180.6 billion, while Mr. Zuckerberg’s net worth stands at $186.9 billion.

Stay tuned.