Mark Zuckerberg has moved back into the world’s fifth-richest spot, overtaking Michael Dell after a sustained slide in Dell’s share price pushed the hardware billionaire down the global wealth rankings.

Dell shares fell 3.3% on Monday afternoon, adding to an 8.8% drop the previous week and extending a retreat of more than 18% since the stock hit an intraday all-time high of $469 on 1st June. Michael Dell, who holds approximately 265.7 million shares in the company bearing his name, saw his net worth fall by around $2 billion to $221.1 billion – placing him just behind Zuckerberg, whose fortune stood at $222.1 billion according to Forbes’ real-time rankings. Meta’s stock, which dipped as much as 1.6% during the session, recovered to roughly flat by the close.

The shift is a brief pause in what has otherwise been a remarkable run for Dell. The company’s shares have risen around 200% this year, more than tripling in value even accounting for the recent pullback. Michael Dell opened 2024 ranked 13th globally with a net worth of $141 billion, and his wealth has grown 864% since 2020, when it stood at $22.9 billion.

Much of that ascent reflects Dell Technologies’ position as a major supplier to the AI infrastructure buildout. The company reported an 88% surge in server revenue in its most recent quarter, with AI server sales climbing 757% year on year. That announcement sent Dell’s stock up 39% in a single session – its best trading day on record – with annual sales expectations now exceeding $60 billion. President Donald Trump, who became a shareholder in the first quarter, has publicly encouraged investors to buy Dell stock.

Both companies have earnings reports on the horizon that could shift the rankings once more. Meta is due to report next week, while Dell updates investors on its second quarter the following month. With AI spending showing little sign of slowing, both Zuckerberg and Dell remain well positioned for further gains – wherever each sits on the Forbes leaderboard when the dust settles.