Mark Zuckerberg’s fortune plunged US$18bil as shares of Meta Platforms Inc tumbled, allowing Tesla Inc’s Elon Musk to cement his status as the world’s third-richest billionaire.

Meta shares fell 11% Thursday in New York after the social media company said second-quarter sales were likely to come in below estimates. Zuckerberg’s one-day drop in net worth is the 11th-largest ever related to a stock move among those in the Bloomberg Billionaires Index, with his fortune now at US$157bil. Musk, 52, added US$5.8bil in wealth to US$184bil as Tesla stock continued its post-earnings rally.