In the ever-shifting landscape of billionaire rankings, Mark Zuckerberg saw a significant dip in his fortune, dropping a staggering $20 billion as Meta Platforms Inc. shares took a tumble. This shift allowed Elon Musk to solidify his position as the world’s third-richest billionaire.

Meta’s shares plunged by as much as 16% in New York following the company’s announcement of second-quarter sales projections falling below estimates. Zuckerberg’s one-day decline in net worth stands as one of the largest related to a stock move in the Bloomberg Billionaires Index, leaving his fortune at $155 billion. On the flip side, Musk’s wealth saw a $400 million boost, reaching $178 billion as Tesla stock continued its upward trajectory post-earnings.

This recent reversal of fortune comes after Zuckerberg briefly surpassed Musk earlier this month, driven by news of Tesla’s dip in vehicle deliveries in the preceding months.

Meta’s stock took a significant hit after the company revised its spending estimates for the year and forecasted second-quarter sales below Wall Street’s expectations. This raised concerns among investors regarding the potential payoff of Meta’s investments in artificial intelligence.

Despite the setback, Meta’s stock remains up 22% for the year, reflecting ongoing enthusiasm surrounding artificial intelligence advancements. Conversely, Tesla’s shares experienced a notable surge of 12% following Musk’s promise to introduce more affordable vehicles later this year, easing worries stemming from disappointing earnings and growth projections.

Musk’s wealth is predominantly derived from his stake in Tesla, as well as his interests in Space Exploration Technologies and X (formerly Twitter). Similarly, Zuckerberg’s fortune is closely tied to Meta shares.

Beyond their financial standings, Musk and Zuckerberg have been embroiled in a public rivalry, exemplified by Meta’s launch of Threads, a social-media platform competing with Musk’s X. The animosity even led to playful exchanges about a potential cage fight between the two billionaires last year.

As their fortunes fluctuate and their rivalry persists, Zuckerberg and Musk continue to captivate the world’s attention, not only for their wealth but also for their intriguing interactions and ongoing competition in the tech sphere.