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The fortunes of all of the world’s richest people often fluctuates as most hold the majority of their wealth in stocks, which trade daily. At its peak in 2021, Mr Musk’s fortune was worth $340bn following a pandemic-fuelled rally in Tesla’s share price.
As well as a significant holding in Tesla, Mr Musk also owns X, formerly Twitter, and around 42pc of SpaceX, which forms the bulk of his wealth. He also has smaller interests in brain chip company Neuralink and The Boring Company.
News of the entrepreneur falling behind Mr Zuckerberg comes as Mr Musk clashed with judges in Brazil over demands that Twitter place restrictions on a number of accounts.
Officials in Brazil have been cracking down on social media accounts that spread disinformation in the wake of riots on January 8, following the defeat of former president Jair Bolsonaro.
However, Mr Musk accused Brazilian Supreme Court judge Alexander de Moraes of “brazenly and repeatedly” violating Brazil’s constitution with demands to block accounts.
Judge de Moraes said Mr Musk should “refrain from disobeying judicial orders, including by reactivating an account that the Supreme Court ordered blocked”.
Mr Musk said he would reactivate accounts that Brazilian officials had banned.
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