Mark Zuckerberg became the world’s fifth-richest person on Monday, reclaiming the rank from Michael Dell as shares in his hardware firm declined, extending a cooling period for the stock since climbing to an all-time high last month.
The hardware firm’s stock has cooled since skyrocketing to an all-time high last month.
Shares of Dell dropped 3.3% as of Monday afternoon, adding to an 8.8% slide the previous week and a more than 18% decline since hitting an intraday all-time record high of $469 on June 1.
Dell, who holds about 265.7 million Dell shares, saw his net worth cut by $2 billion to $221.1 billion, ranking him directly below Zuckerberg ($222.1 billion) on Forbes’ list of the world’s wealthiest people.
Meta’s stock, which traded down as much as 1.6%, rose to roughly break even on the day shortly before market close.
