April 27, 2024 1:16 p.m. | 2 minute read |
Crypto whales are loading — are you there?
New research shows the biggest crypto buyers are coming back. And this time? It may be possible for Bitcoin to exceed $100,000 in 2024. You don’t want to miss out on the next big crypto bull run like we saw in 2020 and 2021. To find out exactly what’s going on and what to buy…visit Benzinga. Best cryptocurrency research and investment for just $1.
CEO of tesla company, Elon Muskmoved ahead of Meta CEO mark zuckerberg Following the recovery in Tesla’s stock price, he will now claim the title of the world’s third richest billionaire.
what happened: According to the latest Bloomberg Billionaires Index, Mr. Musk’s net worth has increased to $185 billion, an increase of almost 9% since the beginning of this week.
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The increase means Zuckerberg’s net worth now stands at $157 billion, after Meta’s disappointing financial results reduced Zuckerberg’s wealth by $14 billion.
This change in the billionaire rankings is the first since 2020, following Zuckerberg overtaking Musk earlier this month.
Tesla shares are up more than 18% since Tuesday’s earnings report, despite falling 31% since the beginning of the year. Mr. Musk’s rollout of new models and promises to ramp up production have fueled investor optimism for Tesla’s comeback.
By contrast, Meta’s stock has fallen nearly 11% since Wednesday’s earnings report, despite rising about 27% over the same period.
Also read: Mark Zuckerberg explains why tech layoffs won’t end soon: ‘It’s been really tough’
Zuckerberg warns investors of potential volatility in Meta’s stock price as it pivots to AI, costing the company $40 billion in capital expenditures It is expected that
Competition between the two CEOs has been going on for years, and intensified after Meta announced a Twitter rival shortly after Musk acquired the social media platform in 2022.
why is it important: Recent changes in the billionaire rankings occurred amid several notable events. In April 2024, Tesla disclosed complex transactions totaling $9.1 million between various Musk companies, including SpaceX, X (formerly Twitter), and The Boring Company. This raised questions about corporate governance.
Musk also publicly opposed a proposed ban on TikTok in the United States, saying it violates the principles of freedom of speech and expression.
Meanwhile, Zuckerberg highlighted the ongoing trend of layoffs within the technology industry in February 2024, attributing it to a shift to more efficient operating models. This comes after Meta’s stock price reached an all-time high following significant layoffs.
Read next: Clash of the tech titans: Mark Zuckerberg rises as Elon Musk slumps in the billionaire rankings
This content was created in part by Benzinga Neuro, and reviewed and published by Benzinga editors.
Photo: Shutterstock
Crypto whales are loading — are you there?
New research shows the biggest crypto buyers are coming back. And this time? It may be possible for Bitcoin to exceed $100,000 in 2024. You don’t want to miss out on the next big crypto bull run like we saw in 2020 and 2021. To find out exactly what’s going on and what to buy…visit Benzinga. Best cryptocurrency research and investment for just $1.
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